Trafigura outbids Glencore for Ormet’s alumina

Nov 22, 2013 | 03:38 PM | Michael Cowden

Tags  Ormet, Glencore Xstrata, Trafigura, alumina, auction, bankruptcy, aluminum, nonferrous Michael Cowden

CHICAGO — Trafigura AG has outbid Glencore Xstrata Plc in an auction for 32,000 tonnes of alumina offered for sale by bankrupt aluminum producer Ormet Corp.

Lucerne, Switzerland-based Trafigura and Hannibal, Ohio-based Ormet agreed to a purchase price of nearly $9 million, or $281 per tonne, according to a sales contract signed by executives from....

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