Alcoa will consider cutting 11 smelting capacity

2022-05-20
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Alcoa will consider reducing smelting capacity by 11%

according to the news on May 1 in New York, Alcoa (AA) said that the company will achieve common development and prosperity, and consider reducing smelting capacity by 460000 tons in the next 15 months in response to the decline of aluminum price. According to the news from New York on May 1, American Aluminum Corporation (AA) said that the company will consider reducing 460000 tons of smelting capacity in the next 15 months in response to the strength of commercialized large-scale production of aluminum and the decline in price. Alcoa is the world's most profitable aluminum company. Chris Ayers, President of the company's global primary products department, said: due to the aggravation of work hardening, the global aluminum price continues to weaken. We should consider each option to improve the company's competitiveness. The reduction will affect 11% of the global smelting capacity. The company has 13% or 568000 tons of production capacity idle

Alcoa said that the capacity reduction includes all its facilities and focuses on high-cost refineries and refineries with long-term risks caused by energy costs or regulatory uncertainty. The company has been affected by weak primary aluminum prices due to continued oversupply, despite Alcoa's action to cut production

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