Last week we saw further news out of Alcoa (NYSE:AA) that the company has completely disposed of its cast auto wheels business, after agreeing to sell its wire harness and electrical distribution business to Platinum Equity. This is more evidence to support what we have recently been saying about Alcoa: that the company is ridding itself of all downstream operations in order to complete its transformation into a pure mining/smelting company. Once the switch completely takes place, there is a lot of potential for the company to be scooped up by a mining major. Also, it’s hard to argue these days about getting out of the
auto business altogether.
***The LME is closed for its May holiday today…
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- Network Metals
- Joshua Kalter (president/owner): Mr. Kalter has over 25 years of experience in trading metals, ores, and alloys in international trading firms. Specifically he has physical trade expertise in non-ferrous metals and has traded on the LME and COMEX. Mr. Kalter has great familiarity with producers and consumers on both the executive and plant levels in the metals, automotive, building and construction, packaging and steel industries. Mr. Kalter has extensive knowledge of the global metals, ores, and alloys transportation and logistics operations, especially the importation of Chinese metals. He has also established detailed hedging, freight, warehousing, and distribution programs for the metal industry. Mr. Kalter consults extensively with a wide array of hedge funds regarding the physical metal markets, and has delivered seminars on various topics. His expertise includes aluminum, copper, nickel, zinc, lead, tin, silicon, magnesium, manganese, chrome, titanium, molybdenum, cobalt, ferroalloys, steel industry raw materials, scrap & recycling, and base metal alloys.