Alcoa under review! Tariffs, power outage, and delayed refinery restart cloud Q3 outlook, despite steady Q2 orders
On Thursday, May 1, the US aluminium giant Alcoa Corporation informed the media and stakeholders that its order book for the second quarter remains stable, despite US tariffs. CEO William Oplinger stated that the company has yet to observe any negative impact on bookings due to the tariffs; but could not give a positive outlook for the months to come, citing customer feedback that signals potential challenges ahead.
Outlook under review amid tariffs and power outage
In addition to the tariff pressure, Alcoa is now grappling with a new obstacle and that is power outage in Spain, which has disrupted operations at both its aluminum smelter and alumina refinery. The company is currently assessing the full extent of the operational and financial damage at its San Ciprián facility, the largest integrated aluminum plant in Spain. While the evaluation continues, Alcoa is preparing for the possibility of further risks to its business.
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