August 2016

MB NON-FERROUS UK SCRAP AND FOUNDRY INGOT PRICE CHANGES

The following MB UK non-ferrous scrap and foundry ingot prices changed on Wednesday August 31:

ALUMINA INDEX: Sellers await return of Chinese buyers as arb window nears re-opening

Benchmark alumina prices held below $230 for a second consecutive week in late August as Chinese buyers remained out of the market, while consumers elsewhere held good stocks of the raw material.

HOTTER ON METALS: Aleris to get a new Chinese owner

US aluminium rolled products producer Aleris is being acquired by Zhongwang USA, majority-owned and led by the founder of China Zhongwang Holdings, the world’s second largest aluminium extrusions maker.

Aleris in deal to be acquired by Zhongwang USA LLC

Aleris Corp has entered into a definitive agreement to be acquired by Zhongwang USA LLC in a deal worth $2.33 billion, the company said.

Chalco will set up jv for Guizhou bauxite project

Aluminum Corp of China (Chalco) has signed a co-operative agreement with Guizhou’s provincial government in an attempt to capitalise on reserves of bauxite located in the district of Daozhen, China Central TV reported.

HOTTER ON METALS: Alumina becomes a bankers game, in theory

The world’s first ever alumina contracts are set to launch next month, a move that will allow banks to be active in the underlying physical commodity – in theory, at least.

LORD COPPER: Two cheers for CME's launch of alumina contracts

CME Group will be launching two alumina contracts at the end of September, leaving Lord Copper wishing it well but wondering whether such hedging trades will ever achieve convincing liquidity.

MB NON-FERROUS EUROPEAN SCRAP PRICE CHANGES

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

PRICING NOTICE: Confirmation of changes to Metal Bulletin’s alumina indices

Following a month-long consultation with the market, Metal Bulletin is changing the day it calculates and publishes its alumina indices to Thursday with effect from September 1, 2016.

Chalco 1H net profit surges to $8.6m

Aluminum Corp of China (Chalco) has reported a net profit of 57 million yuan ($8.6 million) for the first half of 2016, the company said in a filing with the Shanghai Securities Exchange this week.