CHICAGO Alcoa Inc. has entered the fray for carbon anodes on sale from bankrupt aluminum producer Ormet Corp.
The Pittsburgh-based 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 documents.
Separately, Trafigura 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 Dec. 13.
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).