https://www.scmp.com/rss/295822/feed Aluminium is a lightweight industrial metal, which has been experiencing relatively high growth globally, due to demand from new applications such as vehicles (both new energy and conventional) as makers need to reduced weight to enhance fuel efficiency. It is in high demand in the construction, transportation and consumer packaging sectors, such as windows, aircraft and soft drink cans. China is the world’s largest producer and consumer of aluminium, accounting for more than half the global... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Shares of Rusal soared on Thursday in Hong Kong after the embattled Russian aluminium giant appointed an interim chief executive and announced a sweeping board reshuffle as it seeks to be extricated from sanctions imposed by the United States. But with execution of a plan by oligarch tycoon Oleg Deripaska to relinquish control over Rusal’s parent EN+ Group still unsettled, it remains unclear how far the company is from meeting US demands for trading restrictions that are crippling its... https://www.scmp.com/business/companies/article/2147552/us-sanctions-hit-rusal-rises-hong-kong-new-ceo-appointment-and?utm_source=rss_feed https://www.scmp.com/business/companies/article/2147552/us-sanctions-hit-rusal-rises-hong-kong-new-ceo-appointment-and?utm_source=rss_feed Thu, 24 May 2018 05:35:54 +0000 US President Donald Trump has postponed the imposition of steel and aluminium tariffs on Canada, the European Union and Mexico until June 1, and has reached agreements for permanent exemptions for Argentina, Australia and Brazil, the White House said on Monday. The decisions came just hours before temporary exemptions from the tariffs on these countries were set to expire at 12:01 am on Tuesday during US East Coast hours. In a statement, the White House said that the details of the deals with... https://www.scmp.com/business/global-economy/article/2144129/trump-postpones-decision-metals-tariffs-canada-european?utm_source=rss_feed https://www.scmp.com/business/global-economy/article/2144129/trump-postpones-decision-metals-tariffs-canada-european?utm_source=rss_feed Tue, 01 May 2018 03:45:59 +0000 The US Department of Commerce received a judicial ruling authorising it to continue its investigation into whether aluminium alloy sheet metal from China was being dumped or unfairly subsidised, adding to worries of a worsening rift between the world’s two largest economies. The US International Trade Commission, a bipartisan, quasi-judicial federal agency in charge of administering US trade remedy laws, determined that US industry was “materially injured by reason of imports of common alloy... https://www.scmp.com/news/china/policies-politics/article/2128088/trade-panel-finds-china-aluminium-materially-injured-us?utm_source=rss_feed https://www.scmp.com/news/china/policies-politics/article/2128088/trade-panel-finds-china-aluminium-materially-injured-us?utm_source=rss_feed Fri, 12 Jan 2018 23:00:45 +0000 Shares in Rusal, the world’s second-largest aluminium producer, fell after it posted a less than expected net profit, despite the company raising its forecast for a deficit in the global supply of the lightweight industrial metal. The Moscow and Hong Kong-listed company’s unadjusted net profit rose by 14.3 per cent to US$312 million, less than the average of US$365.5 million forecast by two analysts polled by Bloomberg. However, adjusted earnings before interest, taxes, depreciation and... https://www.scmp.com/business/companies/article/2119629/shares-aluminium-producer-rusal-fall-weaker-expected-third?utm_source=rss_feed https://www.scmp.com/business/companies/article/2119629/shares-aluminium-producer-rusal-fall-weaker-expected-third?utm_source=rss_feed Mon, 13 Nov 2017 06:11:53 +0000 Shares of China Hongqiao, the nation’s largest aluminium smelter by capacity, gained for a sixth straight trading day on Monday, after it announced over the weekend that it is seeking a court order to block previously published as well as any future “defamatory” reports by Emerson Analytics. China Hongqiao shares ended Monday’s session at HK$12.6, a gain of 0.64 per cent from its close on Friday. Last week, shares of China Hongqiao rose by 77 per cent in resumed trade following a seven-month... https://www.scmp.com/business/banking-finance/article/2118679/china-hongqiao-files-court-action-block-negative-research?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2118679/china-hongqiao-files-court-action-block-negative-research?utm_source=rss_feed Tue, 07 Nov 2017 01:32:30 +0000 China Hongqiao Group will get an HK$8 billion (US$1.02 billion) financial lifeline from the country’s largest conglomerate Citic Group to repay bank loans, as it borrowed its way to having the world’s biggest installed capacity for producing aluminium. Hongqiao agreed to sell 806.6 million new shares and US$320 million of convertible bonds to Citic and the conglomerate’s unit CNCB (Hong Kong) Investment, according to a statement to the Hong Kong exchange. The sale of the new stock and the bonds... https://www.scmp.com/business/companies/article/2107035/citic-group-extends-us102-billion-financial-lifeline-worlds?utm_source=rss_feed https://www.scmp.com/business/companies/article/2107035/citic-group-extends-us102-billion-financial-lifeline-worlds?utm_source=rss_feed Wed, 16 Aug 2017 07:43:40 +0000 Metals are the undisputed kings of commodities and among the world’s best performing major investments thanks to Chinese state power. While energy and farming prices wallow in glutted markets, the top six raw materials in the Bloomberg Commodity Index this year are all metals, mostly due to China’s pledges to use its control of local producers to rein in supply. Aluminium, with prices up 20 per cent this year, led copper, zinc, gold, silver and then nickel higher on the index, while natural... https://www.scmp.com/business/commodities/article/2106472/metals-leave-commodity-rivals-dust-china-flexes-muscle?utm_source=rss_feed https://www.scmp.com/business/commodities/article/2106472/metals-leave-commodity-rivals-dust-china-flexes-muscle?utm_source=rss_feed Fri, 11 Aug 2017 11:06:11 +0000 Rusal, the world’s second-largest aluminium producer, will stick to its goal to source all of its electricity needs from clean energy by 2020 despite the United States’ withdrawal from the Paris agreement on climate change mitigation, according to its deputy chief executive. The Moscow-based firm will also invest more in research and development on new light weight alloys that mix aluminium and other materials, as China’s excess supply of low-end primary aluminium product continues to put... https://www.scmp.com/business/companies/article/2099773/rusal-plans-power-its-smelters-wholly-hydro-electricity-2020?utm_source=rss_feed https://www.scmp.com/business/companies/article/2099773/rusal-plans-power-its-smelters-wholly-hydro-electricity-2020?utm_source=rss_feed Sun, 25 Jun 2017 05:03:32 +0000 China Hongqiao, the world’s largest producer of aluminium, aims to raise the annual capacity of the lightweight industrial metal by around 15 per cent this year if the market recovery continues. The Shandong-based firm aims to spend up to 15 billion yuan this year on expanding its output capacity of aluminium, alumina, bauxite and electricity, besides retrofitting its coal-fired power plants to meet future carbon emission requirements. Last year’s spending totalled 14 billion yuan. Its... https://www.scmp.com/business/companies/article/1924575/china-hongqiao-worlds-largest-aluminium-producer-expand-capacity?utm_source=rss_feed https://www.scmp.com/business/companies/article/1924575/china-hongqiao-worlds-largest-aluminium-producer-expand-capacity?utm_source=rss_feed Mon, 14 Mar 2016 06:41:59 +0000