January production rise
Daily average primary aluminium output rose to 68.6kt in January from a revised 68.5kt in December, provisional figures from the International Aluminium Institute (IAI) showed.
Total production in January was 2.216Mt compared with a revised 2.122Mt in December.
To see the full breakdown of primary aluminium production please visit https://stats.world-aluminium.org/iai/stats_new/formServer.asp?form=1
German packaging boost
Aluminium packaging manufacturers in Germany have “recovered from the economic crisis more quickly and better than expected in 2010,” according to a report by the GDA, the federation of the aluminium producing and processing industry in Germany.
Packaging, based on or including aluminium, recorded a 13.6% hike in growth in 2010 with 405.1kt of aluminium foil, tubes, flexible packaging, and aerosol and beverage cans produced, up from 356.6kt in 2009
Demand came from the most important markets for aluminium packaging – cosmetics, pharmaceuticals and food industries.
Aleris $42M income
US aluminium sheet maker and recycler Aleris reported Q4 net income of $42M, compared with a net loss of $759M for Q4 2009.
Q4 volume rose 17% from a year before, Aleris said, adding that the increase, coupled with higher LME prices and improved rolling margins, resulted in fourth-quarter revenue of $1.1bn, 26% above the $840M in Q4 2009. For the full-year, revenue rose to $4.1bn from $2.9bn in Q4 2009.
Sterlite bid rejected
Sterlite Industries has had its bid to buy a stake in Balco rejected.
The Indian government turned down the bid calling it a violation of regulation rules. Sterlite already owns 51% of Balco.
Sterlite said it may appeal against the decision.