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Stock impact report

China And The U.S. Compete For Bauxite, The Ore Of Aluminum [Forbes]

Alcoa Corporation (AA) 
Last alcoa corporation earnings: 4/22 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investors.alcoa.com
Company Research Source: Forbes
In the South American country of Suriname, Chinalco, a state-owned Chinese miner and metal producer, has staked a claim to neglected bauxite deposits in the west of the country. Bauxite mining in Guinea (Photo by Robert Nickelsberg/Getty Images) Getty Images In Australia Alcoa, a big U.S. aluminum producer, is planning to restart bauxite mining in an area abandoned 10 years ago. Driving the revival is a squeeze on the supply of bauxite and alumina, the intermediate product used to make aluminum. Cutbacks in bauxite mining in the African country of Guinea, the world's biggest exporter of the material, as well as in Australia, Brazil and China, has seen the price of Guinea ore rise by 50% to $75/t over the last two years while the Australian price is up 60% at $55/t. Prices for alumina and aluminum have also moved higher led by alumina which has risen by 140% over the past 12 months thanks to supply outages and the closure of refineries in Australia. Australian squeeze Show less Read more
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