Alcoa expects double-digit growth in sales on improved demand for aluminium across all end-use sectors
Alcoa Corporation expects double-digit growth in the sales of its value-added products this year based on the continued economic recovery and improved demand for aluminium across all end markets.
The company forecasts an improvement in shipments across all segments. Bauxite is estimated to improve by 0.1 million dry metric tonnes to 50-51 million dry metric tonnes; alumina to increase to 14.1-14.2 million metric tonnes; and aluminium by 0.2 million metric tonnes to 2.9-3 million metric tonnes.
Alcoa anticipates a strong Q3 on the basis of continuing forecasts for economic recovery and solid global demand across end-use sectors. It expects third quarter tax expense to exceed $100 million, which may vary with market conditions and jurisdictional profitability.
As the COVID-19 pandemic is ongoing, Alcoa continues to take appropriate measures to protect its employees and business. Uncertainty around the pandemic and its impact may cause the company’s outlook on business and financial condition to differ from this outlook.
Hindalco Industries: Aluminium wire rods price inches up to INR 228,850/t
Next articleWeekly Aluminium Downstream Recap: Sanjeev Gupta battles to save its Belgian aluminium rolling mill from US equity firm AIP; Alucast’s £200,000 investment supports to bounce back from pandemic
Grow with
AL Circle
