Reuters
Norsk says may cut Australia aluminium output
Edited by : AL CIRCLE
1 min read
Norwegian metals group Norsk Hydro is considering cutting production at its Kurri Kurri aluminium plant in Australia because of depressed metal prices, the company said.
A consultation period with employees and union representatives at the 180,000-tonnes-per-year facility north of Sydney was underway, Norsk said in a statement.
"This is a response to the weak macro-economic environment, with low metal prices and uncertain market outlook," the company said in a statement received by Reuters.
"In case of a curtailment at Kurri Kurri, Hydro is confident that customer commitments will be served through its global metal products supply system," it said.
Last week, Alcoa Inc, the largest U.S. producer of aluminium, was the first to announce a cutback in response to steep aluminium price falls, slashing annual global smelting capacity by 12 percent.
Prices for aluminium on the London Metal Exchange (LME) were last at $2,153 a tonne, well down on levels above $2,800 last May.
Hydro announced in November it would not restart idled capacity at its Sunndal primary aluminium smelter in Norway until market conditions pick up. (Reporting by James Regan; Editing by Lincoln Feast)
A consultation period with employees and union representatives at the 180,000-tonnes-per-year facility north of Sydney was underway, Norsk said in a statement.
"This is a response to the weak macro-economic environment, with low metal prices and uncertain market outlook," the company said in a statement received by Reuters.
"In case of a curtailment at Kurri Kurri, Hydro is confident that customer commitments will be served through its global metal products supply system," it said.
Last week, Alcoa Inc, the largest U.S. producer of aluminium, was the first to announce a cutback in response to steep aluminium price falls, slashing annual global smelting capacity by 12 percent.
Prices for aluminium on the London Metal Exchange (LME) were last at $2,153 a tonne, well down on levels above $2,800 last May.
Hydro announced in November it would not restart idled capacity at its Sunndal primary aluminium smelter in Norway until market conditions pick up. (Reporting by James Regan; Editing by Lincoln Feast)
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