World Aluminium Market
Alcoa reviewing future of Australian aluminium smelter
Edited by : AL CIRCLE
1 min read
Alcoa said the aluminium industry had been severely impacted by difficult macro economic conditions, with the higher Australian dollar placing increasing pressure on the market.
"A combination of factors, including metal prices, input costs and exchange rates, have resulted in the Point Henry smelter becoming unprofitable," Alan Cransberg, Alcoa of Australia Managing Director said in a statement.
Alcoa hopes to complete its review on the smelter's future by the end of June.
The Point Henry smelter is located in the state of Victoria and has a capacity of 190,000 tonnes of aluminium per year.
Aloca's Point Henry operations, including the smelter and aluminium rolling mill employ around 900 people, however the aluminium rolling mill is not included in the review.
Last month, Alcoa Inc posted a fourth quarter loss due to a steep plunge in aluminum prices, but its revenue beat expectations and the company gave a positive outlook for global demand for the metal, especially in the aerospace and automotive markets.
"A combination of factors, including metal prices, input costs and exchange rates, have resulted in the Point Henry smelter becoming unprofitable," Alan Cransberg, Alcoa of Australia Managing Director said in a statement.
Alcoa hopes to complete its review on the smelter's future by the end of June.
The Point Henry smelter is located in the state of Victoria and has a capacity of 190,000 tonnes of aluminium per year.
Aloca's Point Henry operations, including the smelter and aluminium rolling mill employ around 900 people, however the aluminium rolling mill is not included in the review.
Last month, Alcoa Inc posted a fourth quarter loss due to a steep plunge in aluminum prices, but its revenue beat expectations and the company gave a positive outlook for global demand for the metal, especially in the aerospace and automotive markets.
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