Nonferrous

• Russian metal companies look to lower capex: execs Apr 11, 2013

  Russian metal and mining companies are focusing on lowering capital expenditures to attract investment and limit exposure, according to speakers at the VTB Capital Investment Forum in New York.

• Xstrata Nickel’s Koniambo project kicks off production Apr 11, 2013

  Xstrata Nickel has started metal production at its $5-billion Koniambo nickel project in the South Pacific island of New Caledonia, the company said April 11.

• Trevali finishes Peru zinc-lead mine construction Apr 11, 2013

  Trevali Mining Corp. has completed construction of its Santander zinc-lead-silver mine in Peru, despite challenging weather conditions in the Andes.

• Hamilton to succeed Crowdis at Bonnell Aluminum Apr 10, 2013

  W. Brook Hamilton has been named president of extruder Bonnell Aluminum Inc. effective June 1, parent company Tredegar Corp. said April 9.

• SEC rejects Southwire ETF complaint Apr 10, 2013

  There is no evidence that copper end-users "will not be able to obtain their desired brands of copper at their desired locations" as a result of a physical copper ETF, according to the SEC.

• Aluminum can weather low LME prices: execs Apr 10, 2013

  Years of recession and the lessons gleaned from those tough times have helped aluminum producers cope with current low prices on the London Metal Exchange, according to industry executives.

• Aluminum industry clawing back after recession: Noranda's Smith Apr 10, 2013

  The North American aluminum industry is seeing demand recover to pre-recession levels, according to Noranda Aluminum Holding Corp.’s top executive.

• Premiums reveal market distortion: Luvata Apr 10, 2013

  Physical copper premiums don’t reflect market fundamentals, an indication that "the copper value chain is broken," according to Luvata vice president of metals Ian Scarlett.

• Incentives unhealthy for copper: Codelco chief Apr 10, 2013

  Incentivizing copper’s movement into LME warehouses for financing deals is unhealthy and doesn’t reflect the underlying market fundamentals, Thomas Keller Lippold said.

• Luvata cuts outlook but optimistic on US, China Apr 10, 2013

  Global copper fabricator Luvata has lowered its expectations for 2013 sales but remains uncertain how the rest of the year will play out.

• Aluminum industry can bridge political gap Apr 10, 2013

  The aluminum industry has a good story to tell to both Republicans and Democrats when it comes to meeting stricter fuel economy standards in the United States, according to one political journalist.

• Codelco workers’ strike has no justification: chief exec Apr 10, 2013

  Copper producer Corporación Nacional del Cobre de Chile (Codelco) made contingency plans to cope with the one-day national strike April 9, which the company said was unjustified, president and chief executive officer Thomas Keller Lippold told AMM.

• Demand rises as old mines deteriorate: exec Apr 10, 2013

  The rise of megacities is driving up copper consumption, but existing mines won’t be enough to meet demand, according to Robert Friedland, executive chairman and founder of Ivanplats Ltd.

• General Cable targets more aluminum use in wire sector Apr 10, 2013

  General Cable Corp. is looking to boost aluminum’s presence in the wire and cable markets and sees increasing success in the power transmission sector, a company executive said.

• Aluminum to beat expectations: Alcoa Apr 09, 2013

  Bolstered by automotive and aerospace demand, Alcoa Inc. expects aluminum demand to grow 6.5 percent over the next decade, outstripping global gross domestic product gains.

• Iron, steel trade deficit rises in Feb. as copper moves to surplus Apr 09, 2013

  The U.S. trade deficit for iron and steel mill products grew 11.5 percent month on month in February to $657 million, as exports slipped and imports rose 4.2 percent, according to the latest Bureau of Economic Analysis data.

• DLA again offers US, Japanese ferromanganese for sale Apr 09, 2013

  DLA Strategic Materials is again offering 2,000 short tons of 76.76-percent high-carbon ferromanganese from the domestic market and 1,145 tons of 76.45-percent material from Japan.

• Mill-grade aluminum scrap up with LME rise Apr 09, 2013

  Some mill-grade aluminum scrap prices increased April 8 as strengthening terminal markets coupled with steady demand lent support to the secondary market.

• Davenport not enough for auto growth: Alcoa Apr 09, 2013

  Alcoa Inc.’s $300-million automotive expansion at its Davenport, Iowa, facility won’t be enough to meet future demand from the sector, chairman and chief executive officer Klaus Kleinfeld said.

• Alcoa sees power disruptions hurting 2d-qtr. results Apr 09, 2013

  Planned outages at Alcoa Inc.’s Anglesea power plant in Australia and Warrick power plant in Evansville, Ind., will cost it $25 million in the second quarter.

• Chile copper workers strike, threaten another stoppage Apr 09, 2013

  Unions representing about 25,000 workers in Chile’s major copper mines called a 24-hour strike April 9, and threatened a further stoppage depending on the government’s response.

• Opportunities ahead for copper industry: Rio Tinto Apr 09, 2013

  The copper industry is facing four megatrends that will bring great opportunities, alongside longer lead times for new supply and higher structural costs, Rio Tinto copper division chief executive officer Jean-Sebastien Jacques said.

• US copper scrap at premium to Comex as refined metal prices fall Apr 09, 2013

  High-grade copper scrap prices are trading at a premium to Comex tags in the U.S. market following a sharp swing lower in refined metal prices, sources told AMM sister publication Metal Bulletin at the Center for Copper and Mining Studies’ annual Cesco Week in Santiago, Chile.

• Chile’s energy sector is not competitive globally: official Apr 09, 2013

  Chile’s energy sector is uncompetitive by international standards and the government is working to bring industrial energy costs down, according to Hernán de Solminihac, Chile’s mining minister.