Nonferrous

• Alcan mulls running Alma smelter at reduced rate if workers walk out Dec 21, 2006

  Alcan Inc. might operate its Alma smelter in the Saguenay region of Quebec at reduced capacity using non-unionized employees if United Steelworkers union members go on strike in January.

• Zinc premiums under pressure as LME stocks grow Dec 21, 2006

  An end-of-year slowdown continues to put pressure on zinc premiums as stocks slowly build up in London Metal Exchange warehouses.

• Market braces for possible Chinese export tax on magnesium Dec 21, 2006

  U.S. magnesium prices could shoot up next year if China decides to slap an export tax on the metal, trade sources warned.

• Golden Northwest considering partial restart Dec 21, 2006

  Golden Northwest Aluminum Holding Co., the post-bankruptcy successor of Golden Northwest Aluminum Inc., is close to a decision on the future of the two Pacific Northwest primary smelters under its control, a company executive said Thursday.

• Alcan eyes running Alma at reduced rate if workers strike Dec 21, 2006

  Alcan Inc. said it might operate its Alma smelter in the Saguenay region of Quebec at reduced capacity using non-unionized employees if the United Steelworkers union calls a strike in January.

• Aluminum premiums under pressure, rebound eyed for ‘07 Dec 21, 2006

  Midwest aluminum premiums are coming under downward pressure following end-of-year sales by consumers with excess inventory, but contract premiums for next year show signs of renewed strength.

• Copper demand unlikely to pick up in New Year traders Dec 21, 2006

  Soft demand for copper is expected to continue into the New Year as consumers report weak order books in the wake of the U.S. housing slump, according to traders.

• Nymex pares gold, silver margins Dec 20, 2006

  The New York Mercantile Exchange (Nymex) plans to reduce margins for its gold, Comex miNY gold, silver and Comex miNY silver futures contracts effective with the close of business Thursday.

• Altonorte seals contract; plant back at full tilt Dec 20, 2006

  Xstrata Plc’s Altonorte copper smelter in Chile has returned to full capacity after workers agreed to a new contract late Tuesday, ending a two-day strike.

• Jaguar scraps exploration pact with BHP Dec 20, 2006

  Jaguar Nickel Inc., Toronto, has terminated a deal with BHP Billiton for the exploration and development of nickel properties in Canada, Alaska, the United States and Greenland.

• Skye’s rights plan draws questions as it pursues Fenix project funding Dec 20, 2006

  Skye Resources Inc.’s decision to adopt a shareholder rights plan comes as the Vancouver, British Columbia,-based company is seeking $750 million to finance construction of its Fenix nickel project in Guatemala.

• Nymex reducing margins on gold, silver futures Dec 20, 2006

  The New York Mercantile Exchange (Nymex) plans to change margins for its gold, Comex miNY gold, silver and Comex miNY silver futures contracts effective with the close of business Thursday.

• Texas Pacific Group completes $3.3-billion acquisition of Aleris Dec 20, 2006

  Texas Pacific Group Ventures Inc. (TPG) has completed its acquisition of Aleris International Inc. for $1.7 billion, or $52.50 per share, plus the assumption of $1.6 billion in debt.

• Skye’s rights plan draws questions Dec 20, 2006

  Skye Resources Inc.’s decision to adopt a shareholder rights plan comes as the Vancouver-based company is seeking $750 million to finance construction of its Fenix nickel project in Guatemala.

• Sparse spot sales of silicon expected in 2007 Dec 20, 2006

  With most silicon consumers locking up purchases for next year via annual contracts, the virtual standstill in spot market sales of silicon metal is expected to continue well into 2007.

• China exec lashes out over TC/RCs for 2007 Dec 20, 2006

  A Chinese copper industry executive has lashed out at smelters in South Korea and India for leaving China with little option other than to accept lower treatment and refining charges (TC/RCs) for 2007.

• US brass mill imports up 2.6% while exports rise more slowly Dec 20, 2006

  U.S. imports and exports of brass mill products nudged higher in October, according to the latest figures from the Copper and Brass Fabricators Council.

• Sparse spot sales of silicon expected in ’07 Dec 20, 2006

  With most silicon consumers locking up purchases for next year via annual contract, the virtual standstill in spot market sales of silicon metal is expected to continue well into 2007, traders said.

• Work on big China copper mine delayed again Dec 20, 2006

  Construction of China’s largest copper mine has been delayed until the middle of next year as the development company awaits final government approval.

• Alma workers to vote on proposed contract Dec 20, 2006

  Unionized workers at Alcan Inc.’s Alma smelter in Quebec are scheduled to vote Friday on whether to accept the company’s latest contract offer.

• US brass mill imports, exports rise in Oct. Dec 20, 2006

  U.S. imports and exports of brass mill products nudged up in October, according to latest figures from the Copper & Brass Fabricators Council.

• Nickel mart keeping close watch on talks at Sudbury Dec 19, 2006

  A union declaration of a strike deadline at Xstrata Plc’s mining and processing operations in Sudbury, Ontario, has left the nickel market “walking on egg shells,” with prices likely to react sharply to any risk of a supply disruption, market sources said Tuesday.

• Japanese under pressure to accept copper TC/RCs Dec 19, 2006

  Japanese smelters are facing an uphill battle to win more favorable copper treatment and refining charges (TC/RCs) after most Chinese smelters reportedly booked annual deals with BHP Billiton at $60 per tonne/6 cents per pound with no price participation, according to trader sources.

• Antimony market flat on lack of spot business Dec 19, 2006

  A dearth of buying has kept U.S. antimony prices flat as the market winds down for the end of the year.