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Weak sentiment was blamed for the lower output in the domestic market.
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The company, which sees volatile market conditions continuing this year, will focus on cash generation and cost control to reduce business risk.
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The number of new passenger car registrations in the EU decreased by 4.62% year-on-year in January 2019, making it the fifth consecutive month of decline, the European Automotive Manufacturers Assn (ACEA) said on Friday February 15.
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Finished steel shipments in January are higher both annually and since December.
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The outlook for the Brazilian mining industry has become very murky following a major accident in one of Vale’s mines and the consequent increased scrutiny on operations by authorities, according to analysts.
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Tariffs and quotas on steel and aluminium imported from the European Union could continue and even be extended, industry figures said.
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Aluminium producer UC Rusal’s profits from aluminium sales in the fourth quarter of 2018 were down by 16% year on year because the company was operating under trading sanctions imposed by the United States, according to an earnings statement published on Friday February 8.
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Markets saw a second consecutive round of contract price increases for calcined alumina material, but a change in feedstock costs dynamics and availability could soften the market later in the year.
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Producer Norsk Hydro's underlying operating profit dropped almost 85% in the fourth quarter due to the effects of its production curtailment at its Brazilian alumina refinery, Alunorte.
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Slowing EU steel demand, global overcapacity and weaker worldwide demand could become a major threat to European steel market stability.
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The newly launched business for specialty alumina, NICHE, will incorporate Gramercy’s alumina hydrate operation and ARC’s white fused alumina business in France; the company does not rule out further acquisitions in future.
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The removal of US sanctions on producer Rusal has added strength to Alcoa's forecast of a surplus in alumina in 2019.
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Norsk Hydro's Alunorte alumina refinery in Brazil is waiting for approval to resume full production.
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Asia led global crude steel output growth in 2018, accounting for 1.3 billion tonnes of production - an 8.33% increase - according to statistics published by the World Steel Association (Worldsteel) last Friday January 25.
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The suspension was removed following the end of US sanctions against the Russian aluminium producer on Sunday.
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The uncertainty caused by the current geopolitical climate may only be temporary, but it could affect activity in mergers and acquisitions (M&A) in metals and mining into 2019, according to a report by consultancy firm PwC.
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Major Chinese mills’ daily crude steel output increased in early January, but their finished steel inventory levels dropped slightly.
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Argentina’s crude steel output grew by 11.6% in 2018, according to figures released by national steel association Acero Argentino on Monday January 21.
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Brazil's steel consumption was lower than expected due to lower demand in December.
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Rio Tinto, the world's biggest producer of titanium slag, has reported a fall in production in 2018 after being affected by shutdowns and labor disputes.
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United States-based Alcoa, the world’s eighth-largest aluminium producer, has forecast a surplus of alumina in 2019 while it increases aluminium metal shipments.
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The yuan-dollar exchange rate has changed direction after the Chinese currency saw its biggest one-week rise since 2005, which will have a broad bearing on minerals markets.
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Three of the contracts will be settled against Fastmarkets prices.
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The London Metal Exchange will launch its new cash-settled alumina contract on March 11, to be settled on the Fastmarkets MB index in a basket.
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Alunorte refinery still has two restrictions to be heard in federal court before its output can reach full capacity again.
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The Brazilian environmental agency in the state of Pará, SEMAS, has removed the production embargo at the Alunorte refinery owned by Hydro, the world’s biggest alumina producer.
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Alteo has signed a joint-venture deal with Ginet Group to provide the latter with super fine alumina.
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Calls to discuss outstanding issues seen delaying but not preventing the proposed termination of sanctions on the Russian aluminum producer.
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A resolution of disapproval introduced by United States Senate Democratic leader Chuck Schumer on Friday January 4 opens the door to sanctions remaining in place against Russian aluminium producer UC Rusal, although some trade lawyers and analysts said those efforts might be in vain.
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The outlook for refractory-grade bauxite and fused alumina this year is once again intrinsically linked to how Chinese production will perform.
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Major Chinese steel mills’ daily crude steel output dropped in mid-December, with their finished steel inventory levels decreasing slightly.
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A round-up of the year’s main events in the global bauxite and alumina markets.
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Attendees at Fastmarkets’ 22nd Middle East Iron and Steel conference, held in Dubai over December 10-12, are worried that increased input costs are damaging their competitiveness and eating into their profitability.
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The company has completed a year-long expansion to achieve a total non-met alumina capacity, in both dry and wet hydrate, of up to 800,000 tonnes per year.
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Sanctions against UC Rusal and En+ will be removed early next year, although those against Oleg Deripaska will remain.
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Russian Mining increases capacity by 50% while the flame retardants market continues its accelerated growth, yet alumina hydrate market remains the most widely used material.
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Bosai has made a $1.2 billion acquisition of Shandong Qixing's idled operation, however this is not expected to ease the tightness in the Chinese alumina market with production not due until the first quarter of 2019.
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The company reports that lithium battery demand is supporting the rise in boehmite demand, with revenue for the third quarter at $49.1 million and Nashtec “weighing down” earnings.
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China’s crude steel and finished steel output both maintained their strong upward momentum in November.
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Certain Fastmarkets prices will be rolled over between December 25 and January 1 in observance of the Christmas and New Year holidays.
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The EC's safeguarding measures are needed to keep the European steel market competitive, according to Aditya Mittal.
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Contract negotiations continue to lend upward support to some grades of ground calcined alumina, while unground material prices held steady.
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Brazilian apparent steel use will be higher than previously expected during 2018 and is estimated to grow again in 2019 while the industry moves on from a crisis with better economic prospects, local steel association Aço Brasil said on Wednesday December 5.
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Alumina producer Nabaltec reported rising demand for boehmite, which is used as a component in lithium ion batteries.
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A parliamentary committee has called for civil and criminal investigations into the solid waste disposal operations at Alunorte's alumina refinery in Brazil on environmental grounds.
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The $1.2 billion acquisition of the idled operation will not ease tightness in China's alumina market in the short term - production is not due until the first quarter of next year.
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Market participants have largely priced in the decision, which had been made at state level in March, while Chinese prices continue at elevated levels on a domestic tightness.
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Indications point to an increase in prices for calcined alumina as contract negotiations enter the closing stages in what is looking to be primarily a sellers’ market.
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Major Chinese steel mills cut their crude steel output mildly in the middle of October, while their finished steel inventories continued to rise.
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China’s crude stainless steel output increased in the first nine months of 2018 amid higher prices and healthy profit.
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