Inc. has entered the fray for carbon anodes on sale from
bankrupt aluminum producer Ormet Corp.
aluminum producer has offered to pay more than $3.4 million, or
$200 per tonne, for 17,086 tonnes of anodes stored at
Ormets Hannibal, Ohio, location.
Alcoa said its offers
represents a $70-per-tonne premium to a competing offer from
Chicago-based aluminum producer Century Aluminum Co., according
to documents filed in U.S. Bankruptcy Court in Delaware and
dated Dec. 13.
Alcoa and Century are
among the now five companies vying for Ormets anodes (
amm.com, Dec. 6). The bidding spat followed
Century offering to pay $5.6 million, or $130 per tonne, for
42,841 tonnes of baked carbon anodes from Hannibal-based Ormet
amm.com, Nov. 25).
A telephone auction
for the anodes is scheduled for Dec. 19, according to court
AG has entered the fight for new and used copper rods also on
sale from Ormet. Lucerne, Switzerland-based Trafigura has
offered to buy about 430 tonnes of copper rods for the March
settlement Comex copper price minus 15 cents per pound for the
day the truck is loaded, according to court documents dated
Four companies are now
in the hunt for the copper rods (
amm.com, Dec. 11).
Trafigura, also among
the companies grappling for Ormets anodes, has already
won a bidding spat with Baar, Switzerland-based Glencore
Xstrata Plc for alumina sold by Ormet (
amm.com, Nov. 22), which is looking to sell what
it considers to be excess assets (
amm.com, Oct. 16).
Ormet filed for
Chapter 11 bankruptcy protection in February, citing high
legacy and power costs and low aluminum prices (
amm.com, Feb. 26).