By Andy Dwelling
By Andy Dwelling
LONDON, Oct 22 (Reuters) – One other yr, one other portfolio assessment by Alcoa AA.N.
The U.S. aluminium producer has simply introduced a five-year assessment of round 4.zero million tonnes of alumina capability and 1.5 million tonnes of smelter capability.
Belongings might be improved, curtailed, closed or offered.
It isn’t fairly an annual occasion however Alcoa shareholders have been right here many occasions earlier than as the corporate retains making an attempt to maneuver down the associated fee curve within the face of chronically depressed costs.
On the London Steel Change (LME) three-month aluminium CMAL3 has floor steadily decrease over the course of 2019 and at a present $1,720 per tonne is near the close to three-year low of $1,705 recorded earlier this month.
This time round, nonetheless, Alcoa is throwing an additional ingredient into the cost-cutting combine – sustainability.
The corporate…