Nonferrous RSS

  • Felman Trading denies claims of undercutting silicomanganese market Dec 01, 2010

    Felman Trading Inc. denies claims by market participants that the silicomanganese and ferromanganese company has been selling at a discount over the past year in order to grab market share.

  • Alleged BHP nickel thief arrested on federal charges Dec 01, 2010

    Federal authorities have charged a scrapyard owner in the theft of $2.5 million worth of nickel belonging to BHP Billiton Marketing from a Baltimore port, just days after arresting him as he purportedly planned to leave the country.

  • Cliffs taps veteran to head ‘Ring of Fire' ops Dec 01, 2010

    Cliffs Natural Resources Inc. has appointed Dave Anthony vice president and senior project director of its Canadian chromite operations as the company pushes ahead with plans to be North America’s only ferrochrome producer.

  • Cliffs taps veteran mining exec to head ‘Ring of Fire” chromite operations Dec 01, 2010

    Cliffs Natural Resources Inc. has appointed Dave Anthony vice president and senior project director of its Canadian chromite operations as the company pushes ahead with plans to be North America’s only ferrochrome producer.

  • Novelis to repay $1.7B to parent Dec 01, 2010

    Novelis Inc. will return some $1.7 billion in capital to Indian parent company Hindalco Industries Ltd. after completing an announced debt refinancing, the company said Tuesday.

  • Alaska Metals hires Holger Ellmann Dec 01, 2010

    Holger Ellmann has been hired by Alaska Metals Ltd. Ellmann, former managing director of German ferrous and nonferrous scrap and secondary aluminum company Scholz Aluminium GmbH, will take up his new position on Dec. 1, sources told Metal Bulletin. Ellmann had been in charge of aluminum alloy sales at Scholz, prior to which he worked at Aleris Recycling GmbH. Alaska Metals did not respond to questions regarding Ellmann’s appointment. London-based Alaska metals trades alumina, bauxite and raw materials such as calcined petroleum coke, aluminum fluoride, synthetic cryolite, coal tar pitch, cathode/side block, prebaked carbon anode and anode paste, along with more than 200,000 tonnes per year of primary aluminum, according to its Web site.

  • UBS expands in commodities, hires Dylan Morgan as head of base metals Dec 01, 2010

    UBS AG will introduce flow trading in base metals, agriculture and energy, thus expanding its commodities business, the company said Wednesday. This will be in addition to its existing commodities index business. As such, UBS will look to expand its commodities team, including in base metals, a UBS spokeswoman told Metal Bulletin. The bank has 40 front and back office staff in its global commodities team. “We will be looking to double that over the next two years,” she said, adding that it has hired former Goldman Sachs Group employee Dylan Morgan as head of base metals. “Commodities represents a significant part of the financial market and is a large revenue opportunity for UBS,” Neal Shear, global head of UBS Investment Bank Securities, said in a statement. It comes slightly more than two years after UBS closed its base metals trading desk. Speculation has been mounting since early this year about such a return after UBS’ investment banking division chief said the bank would consider rebuilding that business. Market sources expect UBS to grow its commodities business to the extent that it will be seen as a competitor to JPMorgan Chase and Co.

  • JP Morgan looks to cut London base metals jobs Dec 01, 2010

    JPMorgan Chase and Co. is likely to lay off employees at the former RBS Sempra base metals team in London, sources told Metal Bulletin. The investment bank acquired London Metal Exchange ring dealer RBS Sempra in February, which sources said led to duplication of some roles. At least two front-line staff are known to be affected, market sources said. The company is said to have told those employees that their jobs are in danger, and it will take 30 days to seek alternative roles for them within the group. Former Sempra metals trader Tim Jones left the company in September. JPMorgan declined to comment.

  • Sherritt takes control of nickel project Dec 01, 2010

    Sherritt International Corp. has acquired a controlling stake in Rio Tinto Plc’s Sulawesi nickel project in Indonesia in exchange for $110 million in funding for a feasibility study, Sherritt said.

  • Tin facing 5-year shortage, Metals X says Dec 01, 2010

    Tin has entered a golden era and will be in short supply for at least five years, according to Western Australian resource group Metals X Ltd.

  • Sherritt takes controlling interest in Indonesian nickel project Dec 01, 2010

    Sherritt will acquire a controlling 57.5-percent stake in the holding company that owns the Sulawesi project, which is based in the southeast and central Sulawesi provinces on the island of Sulawesi. Rio Tinto will continue to hold the remaining 42.5 percent.

  • US copper scrap buyers see flat Dec. Dec 01, 2010

    Brass and bronze ingot makers see quiet demand from end-users through year-end, but say that a resulting flatness in the ingot scrap market might be punctuated by some restocking and competition from scrap substitution.

  • Alcoa names M&A group heads Dec 01, 2010

    Alcoa Inc. has named Julia Steyn and George King as vice presidents and co-managing directors of its business development group.

  • Copper breaks free of dollar grip Nov 30, 2010

    Copper broke free from the influence of currency moves Tuesday, climbing in New York and London and leaving some scrambling to cover short positions.

  • Copper breaks free of dollar grip Nov 30, 2010

    Copper broke free from the influence of currency moves Tuesday, climbing in New York and London and leaving some scrambling to cover short positions.

  • Rolled products demand up Hydro Nov 30, 2010

    Aluminum producer Norsk Hydro ASA is anticipating strong demand for its rolled products in the second quarter of next year, the company said Tuesday as it raised prices for some of its products.

  • NW Silicon courts offshore buyers, plans plant restart Nov 30, 2010

    The possible ramping up of an idled silicon facility in Addy, Wash., by startup producer Northwest Silicon LLC won’t flood the domestic market with material, a company executive said, despite concerns from some market players claiming otherwise.

  • Spot silicon rise drives Chinese to renege on pacts Nov 30, 2010

    Rising spot silicon prices have enticed some Chinese suppliers to renege on lower-priced contracts with Western consumers, leaving some would-be buyers—including Rio Tinto Alcan—scrounging for material in an increasingly tight spot market.

  • Baja set to sell Boleo metal to Louis Dreyfus, Korea group Nov 30, 2010

    Baja Mining Corp. will sell 100 percent of the copper and cobalt produced at its Boleo Mine in Mexico through offtake agreements with commodity trader Louis Dreyfus Commodities Group and a Korean consortium when the mine comes on-stream in 2013.

  • Dismissed ferrosilicon lawsuit over price fixing gets a new life Nov 30, 2010

    A previously dismissed lawsuit involving a price-fixing scandal in the ferrosilicon industry has regained momentum, with the two sides clashing since the plaintiffs filed an appeal

  • Codelco names two new GMs Nov 30, 2010

    Corporacion Nacional de Cobre de Chile (Codelco) has named new general managers for two of its mining divisions, El Teniente and Ventanas.

  • Alcoa and Ma’aden sign $1.9B financing for Saudi Arabia mill project Nov 30, 2010

    Aluminum producer Alcoa Inc., Pittsburgh, and state-controlled Saudi Arabian Mining Co. (Ma’aden) have signed $1.9 billion of the financing for the Ma’aden aluminum smelter and rolling mill project in Saudi Arabia, the companies said Tuesday. “Sixteen financial institutions, together providing over $1.9 billion, participated in the signing. The financing has been heavily oversubscribed,” they said. Major international and Saudi Arabian banks participated in the financing, they said, without naming particular institutions. The companies will soon start the financing process for the mine and refinery, which will constitute the second phase of the $10.8-billion fully integrated joint venture. The companies signed a joint-venture agreement for the project in December 2009 and poured the first concrete at the site in late October. The project will constitute a bauxite mine with an initial capacity of 4 million tonnes annually, an alumina refinery with a capacity of 1.8 million tonnes per year, a smelter with a capacity of 740,000 tonnes annually and a rolling mill with a capacity of 380,000 tonnes per year.

  • Alcan ups output estimate for aluminum smelter in Paraguay Nov 30, 2010

    Rio Tinto Alcan’s proposed aluminum smelter in Paraguay could produce as much as 670,000 tonnes per year once it comes online, a company spokesman told AMM, marking a 38-percent increase from the 485,000-tonne-per-year capacity originally estimated for the operation. An improvement in AP-series smelting technology at the proposed site is one driver behind the expected tonnage increase, the spokesman said, noting that the company is now employing AP5X technology at the Paraguayan site. The Montreal-based aluminum producer has also raised its cost estimate for the project to more than $3 billion from $2.5 billion previously, reflecting the increased energy that will be required to power the higher output levels. Rio Tinto Alcan hasn’t yet made a final decision to invest in the project, but if it does proceed it expects to break ground in 2014 and begin production in 2016. Earlier this fall, representatives from the company met with Paraguayan Minister of Exterior Relations Héctor Lacognata and other government officials to discuss the proposed investment. The parties discussed building an industrial park for the downstream aluminum sector to complement the primary smelter (AMM, Oct. 5).

  • Ormet due diligence scheduled to close Tuesday Nov 30, 2010

    Primary aluminum producer Ormet Corp. declined to comment Tuesday on whether it had completed due diligence on its possible purchase of a carbon anode facility in Mead, Wash. Ormet, which first announced plans to buy the plant in March, was expected to make a final decision on the deal by Tuesday. A decision had originally been expected by the end of the second quarter, but that date was extended at least twice to allow for further due diligence. “I don’t have any info for you today. You might want to check back tomorrow,” an Ormet spokeswoman said when asked whether the due diligence period had closed as expected. If the deal goes through, the Mead facility would be able to meet most of the company’s anode needs for its Hannibal, Ohio, aluminum smelter, which has been operating at a reduced rate since May 2009 but is expected to ramp up to full production in the first quarter of 2011 (AMM, Nov. 29). The Hannibal-based company now sources all of its anodes from offshore suppliers, primarily China.

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