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Alumina Alcoa production cuts
Edited by : AL CIRCLE
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US company Alcoa will cut production by an undisclosed amount at the Alcoa World Alumina & Chemicals refining joint venture part owned by Alumina Limited (ASX:AWC).
Speaking with The Australian Financial Review, Alumina chief executive John Bevan, had said that production cuts were likely if low prices continued.
In a statement, Alcoa announced it will close 12 per cent of its global smelting capacity to lower the company’s position on the global aluminium cost curve and improve competitiveness.
In the first half of the 2011 financial year, Alumina boosted its net profit to $63 million.
Speaking with The Australian Financial Review, Alumina chief executive John Bevan, had said that production cuts were likely if low prices continued.
In a statement, Alcoa announced it will close 12 per cent of its global smelting capacity to lower the company’s position on the global aluminium cost curve and improve competitiveness.
In the first half of the 2011 financial year, Alumina boosted its net profit to $63 million.
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