Top China aluminium company returns to profit

Aluminum Company of China (Chalco) has returned to profit, after three consecutive quarterly losses, and analysts expect profits to continue in line with higher metal prices. Read more….

RUSAL reports net loss in H1

The aluminium producer blamed low global metal prices and a weaker rouble for the result. Read more….

Mixed reaction to Rio’s decision to scrap SA smelter project

Environmental organisation Earthlife Africa has welcomed the scrapping of Rio Tinto’s plans for a smelter at Coega. In a statement on Friday, it said that "sense was beginning to reign in the South African energy sector". Late on Thursday, Eskom, the Industrial Development Corporation, the department of trade and industry, and Rio Tinto announced the [...]

Aluminum May Outperform Copper

Marc Courtenay submits: The Royal Bank of Scotland (NYSE:RBS) has released its latest Commodity Companion, covering base and precious metals, iron and the energy complex. Among the major conclusions are the belief that copper will make new record highs by 2013, but that from current prices aluminium may well have the greatest longer term upside. [...]

Copper to post new records, but aluminium may have the greatest upside – RBS

As commodities move from investment pariah to the “darlin’ of the diggin’s’ in just a few months, RBS looks for more vibrancy for the longer term – but the base metals have mountains of inventory to climb first, so don’t be fooled by what has gone before Read more….

Eskom wants BHP to pay standard electricity rates

The power supplier is in talks to renegotiate long-term aluminium smelting contracts Read more….

Demand for aluminium rolled-products rising – Norsk-Hydro

But volumes are still down year on year Read more….

Aluminium losing its glister – BHP Billiton

Aluminium was losing its appeal, BHP Billion chief commercial officer Alberto Calderon said on Wednesday. Calderon told Citigroup analyst Clarke Wilkins during a marketing briefing that the long-term issue of aluminium was that China was not only self-sufficient in the metal, but would also become a long-term exporter of aluminium. Read more….

SA to renegotiate long-term smelter contracts

South African power utility Eskom will have to renegotiate long-term aluminium contracts, the main factor behind the utility’s record annual loss, Public Enterprises Minister Barbara Hogan said on Tuesday. Eskom reported a loss of R9,7-billion in August, arising mainly from fair value losses from derivative contracts linked to the price of aluminium and called "embedded [...]

Rusal plans to speed up new Siberian hydro dam

UC RUSAL aims to speed up construction of a new Siberian utility to compensate for lost energy supplies to its aluminium smelters as a result of a disaster at another hydroelectric dam, the company’s owner said. Twelve people were killed and scores were missing, presumed dead, after a turbine room flooded on Monday at the [...]

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