February 2016

ALUMINA INDICES: Pacific, Atlantic markets gain as tight market prompts aggressive bids

Alumina prices continued to gain last week as buyers competed for scarce spot cargoes.

MB NON-FERROUS EUROPEAN SCRAP PRICE CHANGES

The following MB non-ferrous European free market scrap prices changed on Friday February 26:

South32 targets 25% cost reductions at Worsley Alumina

South32 will cut costs at its Worsley alumina refinery in Western Australia by 25% and reduce staff levels by 15% as a result of deteriorating metal prices.

Noble Group posts $1.67bn net loss in 2015

Trading company Noble Group posted a $1.67 billion net loss in 2015, compared with a $132 million net profit in 2014, following “one of the most challenging years that commodity markets have had to endure for many decades”, the company said in its management discussion and analysis.

UK secondary aluminium ingot price rise eases pressure

UK secondary aluminium ingot prices finally saw some real movement on Wednesday February 24, easing pressure on producers that are dealing with soaring raw material costs.

MB NON-FERROUS UK SCRAP AND FOUNDRY INGOT PRICE CHANGES

The following MB UK non-ferrous scrap and foundry ingot prices changed on Wednesday February 24:

China's bauxite imports surge on concerns over Malaysian ban

China’s bauxite imports surged in January, as Chinese importers built up inventory amid concerns over Malaysia’s ban on mining the raw material in Pahang.

IN FIGURES: China's base metals imports in January

Summary of China’s base metal imports figures for January

ALUMINA INDEX: Prices jump 5% as buyers return to the market

Alumina prices made their biggest one-week gain in 18 months last week, on the tight availability of cargoes for nearby delivery and the return of sellers to the market.

MB NON-FERROUS EUROPEAN SCRAP PRICE CHANGES

All MB non-ferrous European scrap prices were unchanged on Friday February 19.