Alcoa, New York, U.S., announced plans to close or curtail 164,000 metric tons of smelting capacity in the United States and Brazil as part of its smelting capacity review.
“We committed in May to review our global smelting capacity for possible curtailment to maintain the company’s competitiveness,” said Bob Wilt, president, Alcoa Global Primary Products. “Aluminum prices, including premiums, have fallen to four-year lows and we continue to operate in an uncertain, volatile market.”
Following the closures and curtailments, Alcoa has idled 16%, or 646,800 metric tons of its smelting capacity.
Alcoa produces primary and fabricated aluminum, and it is a bauxite miner and alumina refiner. It markets flat-rolled products, hard alloy extrusions and forgings, as well as Alcoa wheels, fastening systems, precision and investment castings, and building systems. It employs approximately 61,000 people in 30 countries around the world.