Alcoa announced its results for the fourth quarter of 2024, which exceeded market expectations with revenues of US$3.49 billion, up by 34% year on year. Besides, the company realized a net profit of US$202 million, a substantial increase compared to US$150 loss million in the same period last year.
Meanwhile, Alcoa's aluminum production rose by 2% to 571,000 tons due to the development of the Alumar smelter in Brazil. The company expects 2025 aluminum production to increase to 2.3 to 2.5 million tons and shipments to reach 2.6 to 2.8 million tons. However, the U.S. government could impose a 25% tariff on Canadian aluminum, which would add US$1.5 to US$2 billion to customers' annual costs.
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