Iron – Reuters reported that iron ore giant Rio Tinto has sacked CEO Tom Albanese on Thursday, who will be replaced by Australian Sam Walsh, who heads the company’s iron ore division.
Articles Tagged "alcan"
Aluminum – Bloomberg.com reports today that in anticipation of the increased need for aluminum ( 5.3%/ per year for the next decade), aluminum producers will need to increase global output by two-thirds, according to executives at Rio Tinto’s (NYSE:RIO) Alcan division. The story is quoted as saying: Unless new smelters are built by 2020, demand for the [...]
Price retreats in aluminum and palladium became newsworthy following the considerable headline story of Afghanistan’s potential of $1 trillion of untapped mineral deposits including critical industrial metals such as iron, copper, and cobalt; in addition to strategic resources like lithium, rare earth deposits of niobium and large deposits of gold.
Iron Investing News reports iron seem to have strong signs in the economy. Rio Tinto has completed the sale of its Corumba iron ore mine in Brazil to mining giant Vale SA for a cash consideration of $750 million. The Corumba sale, which was agreed in January, includes a potash project in Argentina and exploration [...]
Iron Investing News reports the global commodity market is bouncing back. BHP, the Anglo-Australian company’s involvement in the full range of mining, from iron ore to diamonds to coal, gives it a broad take on the overall state of the commodities market. Last November, BHP Billiton was forced to defer delivery of 6 million tonnes [...]
Aluminum Investing News reports aluminum prices have been on the low side due to reduced demand from automakers, builders and appliance manufacturers. The global recession, collapsing consumer and corporate confidence and plunging demand for industrial metals have combined to drop the aluminum prices on the LME to their lowest monthly rate since April 2003. Aluminum inventories are [...]
Aluminum Investing News reports aluminum price has fallen more than 50% since July last year. To kick off 2009, the aluminum market received some positive news as the metal climbed to a three-week high in Shanghai trading. The announcement of a plan by the Chinese government to buy 290,000 metric tons of the metal to [...]
Aluminum Investing News reports an increase in aluminum price on Monday. Aluminum’s gain was welcome after prices sunk during the previous week. Aluminum has taken its steepest price decent on record this year, a trend witnessed in many metals including copper, nickel and platinum. Battered aluminum prices are directly affecting the companies who produce the [...]
Aluminum Investing News reports aluminum demand rised as China prepared for its Olympics. The construction boom in China, which escalated prior to the opening ceremonies in Beijing, has caused a ripple effect that has raised the demand, and prices, of many commodities. Percentage-wise, aluminum spot price increases are on a par with oil price increases: [...]