Alcoa urges production capacity cuts

Jul 09, 2013 | 03:01 PM | Michael Cowden

Tags  Alcoa, Klaus Kleinfeld, William Oplinger, quarterly earnings, primary metals, LME, aluminum prices, aluminum premiums production cuts

CHICAGO — Alcoa Inc. wants other aluminum producers to follow its lead in pruning production capacity as low metal prices have left big parts of the aluminum industry "under water," according to company executives.

"We are very committed to acting (to reduce production capacity), and I wish that this would be indicative of every company that’s playing in our industry," Alcoa chairman and chief executive officer Klaus Kleinfeld said during the Pittsburgh-based aluminum producer’s second-quarter earnings conference call July 8.

Alcoa has said it is mulling cutting up to 460,000 tonnes of smelter capacity over the next year in response to swooning aluminum tags (, May 1). The company has already closed its previously idled 44,000-tonne-per-year smelter in Fusina, Italy, (, June 28) and has also announced plans to permanently close two older potlines at its Baie-Comeau smelter in Quebec and postpone the construction of a new potline by three years (, May 16).....

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