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Archives - Metals

More Al Production Cut (06/11/01)
COPPER DIPS . . . (5/30/01)
Russian aluminum (04/11/01)
Electricity crisis hits Al (04/10/01)
Alcoa on Course (04/06/01)

More Al Production Cut - The Wall Street Journal reported that Canada's Alcan said it will reduce production of aluminum at its Kitimat, BC, smelter, by as much as 50% because of low water levels in its power-generation reservoirs. Alcan will sell the freed-up electrical power to energy starved western U.S. states. (06/11/01)
COPPER DIPS - News of a sharp dip in housing starts hit the copper market yesterday, despite three announcements that production will we down. Rio Tinto PLC's Kennecott Utah Copper Corp. announced production cuts, Phelps Dodge Corp. announced layoffs, and the Radomiro Timic division of Corp. Nacional del Cobre de Chile (Codelco) expects a strike by 400 workers to begin tomorrow. (5/30/01)
Russian aluminum - The second-largest aluminum producer in the world has been formed by the consolidation of several former state-owned Soviet aluminum concerns into a single entity: Russian Aluminium. Judged by the announcement the company placed in yesterday's Financial Times, the new company's leadership is committed to professional management on a Western corporate model. (More at www.rual.ru.) (04/11/01)
Elec-Crisis hits Al - According to The Wall Street Journal, "The federal agency that supplies about half the electricity in the Northwest said it will seek to extend the shutdown of the region's aluminum smelters for as long as two years to save power and avoid raising wholesale rates by at least 250% in the fall." Affected companies include Kaiser Aluminum and Northwest Aluminum. (04/10/01)
Alcoa on Course -- Alcoa announced a 16% increase in net income for the first quarter of 2001. Results were impacted positively by efficiency moves and profitable acquisitions, and negatively by slowdown in key end-user sectors like trucks and soft metals prices. Energy costs are a concern going forward. More at www.alcoa.com. (04/06/01)

 
   
   
 
 

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