Aluminium price is about 10% lower than when Rio started their strategic review but our dollar has fallen by a similar amount. 50/50 call this one.
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Aluminium price is about 10% lower than when Rio started their strategic review but our dollar has fallen by a similar amount. 50/50 call this one.
Thanks guys. I'd like a new memory bank installed.
With everybody staying home and winter approaching, there may be more power the usual being used,may be good for the power companies
From em6live link posted, daily demand seems to be at the bottom of the expected band for the last couple of days. Sticking with my 5% drop predication at least while the lockdown is in effect.
RIO's costs/price ratio really hasn't change much but their competitive environment might have. They have lost bargaining power though, lots of businesses asking for bailouts now. Why favour RIO over say AIR NZ or all the small businesses?
Predict RIO will take slightly lower transmission fees, maybe negotiate a bit of cheaper power commercially, close a pot line perhaps and punt the decision down the road for another year.
Jaa , what a good summary and conclusion.
I can't recall, but understand remediation costs of the site etc are something like $250m - so pretty grunty if accurate. Also the smelter isn't 100% Rio - Sumitomo own 20% so they would have to be on the same page.
Must imagine that Rio would have tried to hawk their 80% over recent years??
Rio trying to screw down power prices in Iceland too
Sound familiar? Rio Tinto considers shutting Iceland smelter ...www.odt.co.nz › news › world › sound-familiar-rio-tinto-considers-sh...