Higher metal prices boost Noble Group’s Q1 metal business income; constrained liquidity checks volumes

Noble Group’s metals, minerals and ores business posted an operating income of $11 million in the January-March quarter, reversing a $32 million loss in the same period last year, amid higher metal prices, the company said on Tuesday May 15.

Noble’s metals operations comprise its Asian base metals business which trades copper, zinc, lead, nickel and other raw materials, and its global aluminium business, which includes its Jamalco joint venture, an integrate bauxite mining and alumina refining operation in Jamaica. Aluminium prices rose in the first quarter, while further price volatility and increases into the second quarter after the United States placed sanctions on Russia’s UC Rusal, the world’s second largest aluminium producer, boosted prices on expectations of reduced supply and complications in terms of delivery and warehousing issues, Noble said....

Published

Vivian Teo

May 16, 2018

10:53 GMT

Singapore