Alcoa’s aluminum smelting business suppressed by oversupply & high costs
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Update time : 2020-05-20 09:42:39
Roy Harvey, President and CEO of Alcoa, said that the company has been facing an oversupply of aluminum and it even received customers’ request to delay shipments to later this year due to the COVID-19 epidemic. Therefore, Alcoa was still evaluating the future of its aluminum smelting business.
He said that high costs were needed for reducing the smelting capacity, and not to mention to increase the smelting capacity.
Alcoa decreased its 2020 annual forecast of aluminum shipment from 3-3.1 million tons to 2.9-3 million tons.
