Alcoa strikes $3.1b cash-and-stock deal for South32’s key aluminium assets
Alcoa Corporation is acquiring South32’s key aluminium assets in a USD 3.1 billion deal in cash plus 17,008,960 Alcoa shares, expanding its upstream aluminium portfolio across Australia, Brazil and South Africa. The transaction will also give South32 and its shareholders an equity interest in the...
Alcoa’s 16kg aluminium wheel could change fleet efficiency equation
A truck’s overall weight comes from dozens of components, including the engine, chassis, tyres, etc. Wheels are one area where fleets can explore lightweighting. Traditional steel wheels, widely used across the transport industry, are known for their robustness. Forged Alcoa aluminium wheels offer...
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Alcoa Report May Offer Bang, Not Bucks
This earnings season could start with a bang. Unfortunately, it's of the unsettling kind. Traditional season-opener Alcoa reports earnings Monday. And the aluminum company may well kick things off by reporting a fourth-quarter loss. As it is, analysts polled by Thomson Reuters expect Alcoa to...
Alcoa output cuts unlikely to push up prices soon
Alcoa's AA +0.33% decision to cut 12% of its aluminum smelting capacity by mid-year could at best support London Metal Exchange prices around current levels and spur some speculative interest from commodities funds but the move won't be enough to have a substantial bullish impact on the...
Alcoa shares could rise 30 percent in 2012: report
Alcoa Inc (AA.N: Quote) shares could rise by as much as 30 percent in 2012 as weak aluminum prices may have bottomed while demand for the metal remains strong, financial weekly Barron's reported on Sunday. The paper said Alcoa's fourth-quarter results, due to be released after-the-bell on Monday,...
Risk Alert For Alcoa, Hydro, Century Aluminum
Wall Street analysts are currently showing no love for three major aluminum miners. Given macro headwinds, cost pressures, and high volatility, the consensus is that the vulnerable fundamentals of Alcoa (AA), Norsk Hydro (NHYDY.PK) and Century Aluminum (CENX) all warrant a "hold" rating. I agree...
US aluminium giant Alcoa slashes global output
US aluminium giant Alcoa will slash 240,000 tonnes a year of global production from yet to be revealed locations as markets for the metal continue to struggle amid growing Chinese capacity and fears of a global slowdown. The move shows the pressure aluminium producers are under amid depressed...
Local aluminium avoids price-slide fallout
AUSTRALIAN operations held in joint venture by Alcoa and Melbourne's Alumina are expected to escape the savage cutbacks that Alcoa has told the US market it needs to make in response to the collapse in aluminium prices. The Alcoa-managed AWAC joint venture - owned 60 per cent by Alcoa and 40 per...
The heat is on Alcoa smelter
A RUTHLESS review of its global smelting operations will place Alcoa's ageing Point Henry smelter near Geelong in the gun for closure -- threatening the state's biggest export industry. Analysts singled out the almost 50-year-old Point Henry plant as the most vulnerable local asset as the company...
Low aluminum prices dent Alcoa earnings
Low aluminum prices may sharply eat into the fourth-quarter earnings of Alcoa Inc., the largest U.S.-based producer of the light metal. Analysts say it could report net income of 1 cent a share, down from 21 cents a share a year earlier, or even show a small loss, according to a Bloomberg survey....
Aluminum giant Alcoa won't say if Canada part of plans to cut smelting capacity
U.S. aluminum giant Alcoa Inc. won't say if Canada figures in its plans to curtail another five per cent of its global smelting capacity as the company cuts costs in the face of weak prices. The company said late Thursday it will reduce capacity by another 240,000 tonnes a year to 4.5 million...
Alcoa to reduce aluminium smelting capacity by 531,000 tonnes
Alcoa (NYSE: AA) plans to close 12% of its global aluminium smelting capacity to improve the company’s cost position and competitiveness, with low aluminium prices to blame. Aluminum prices have fallen more than 27% from their peak in 2011. The company will close or “curtail” about 531,000 tonnes...
Alcoa leads off earnings season
The unofficial start of corporate earnings season kicks off on Monday when Alcoa, the largest U.S. producer of aluminum, reports after the bell. Its results follow on the heels of dimming analyst expectations across the stock market. On Sept. 30, analysts projected that fourth-quarter earnings at...
Alumina Alcoa production cuts
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...
Alcoa to permanently close idled aluminum smelter in Tennessee, trim a Texas operation
Alcoa Inc. said Thursday that it plans to close an aluminum smelter in Tennessee and some operations at a Texas facility to cut costs in the face of weak prices. The moves, plus others to come, will reduce Alcoa’s global smelting capacity by about 12 percent. Aluminum prices have fallen by about...
Aluminum slump has Alcoa staring at quarterly loss
Alcoa Inc , the largest U.S. aluminum producer, could end up posting a fourth-quarter loss due to a dizzying drop in the metal's price in the last six months as the euro zone debt crisis and an economic slowdown in China hurt demand growth. At least five Wall Street analysts cut earnings estimates...
Alumina shares fall as Alcoa shutdowns smelting capacity
ALUMINA shares fell after Alcoa said this morning it would permanently close or idle 12 per cent of its aluminium smelting capacity, following a year in which economic uncertainty slammed prices for the industrial metal. The top US aluminium producer said in a statement it would close or curtail...
Aluminum and Alcoa Get Crushed
Falling global prices of aluminum through last year have led analysts to severely cut estimates of Alcoa Inc.’s (NYSE:AA) profit for the fourth quarter, due to be announced on January 9. According to an average of 18 analysts’ opinions by Bloomberg, the company’s net income will fall 96% to 1 cent...
Alcoa Earnings Estimates Plunge After Aluminum Drop: Commodities
Alcoa Inc. earnings estimates have plunged the most in three years as analysts’ expectations mount that the biggest U.S. aluminum producer may even record a fourth-quarter loss. Net income will tumble 94 percent to 1 cent a share from 21 cents a year earlier, according to the average of 18...
The Dark Clouds Looming Over Alcoa And Aluminum
Alcoa Inc. (AA), the global leader in the aluminum market, has experienced difficult times despite slight improvements in the past two years. With the housing market crashing in the U.S., many manufacturers of products utilized in new construction, including aluminum, were hurt severely. The...
