Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Vessel carrying Vale’s iron ore shipment grounded off Brazil’s coast

A vessel carrying iron from Vale has been stranded off a Brazil port after its bow suffered damage. According to a statement by Vale, the vessel, which was contracted to Vale by South Korea’s Polaris, was damaged after leaving the Ponta da Madeira Maritime Terminal on Feb 24. The 20-member crew has been safely evacuated from the vessel that was grounded by the ship’s captain around 100kms off Brazil’s Sao Luis coast. The company said it was sending tugboats and technical operational support. It said shipments and port operations would not be affected because of this incident.



AA Metals and International Dominican Aluminum announce JV

Orlando-based AA Metals and International Dominican Aluminum (IDA) have formed a joint venture (JV) to extrude aluminum at the latter’s plant in the Dominican Republic. AA Metals will equip the JV with its own standard operating procedures to ensure high quality extrusions and shortened delivery times, according to Dr. Jack Cheng, founder, chief executive officer, and president, AA Metals. Additionally, according to Leonardo Garcia, president, IDA, the JV will facilitate IDA to utilize its facility’s capacity to generate over $50mn of sales in the next three years.


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