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Alcoa (AA) Announces Plans to Curtail Some Smelting, Refining Capacity
November 2, 2015 5:01 PM ESTAlcoa (NYSE: AA) announced that it is taking decisive action to curtail uncompetitive smelting and refining capacity to ensure continued competitiveness amid prevailing market conditions. The Company will reduce aluminum smelting capacity by 503,000 metric tons and alumina refining capacity by 1.2 million metric tons. Alcoa will begin the curtailments in the fourth quarter of 2015 and will complete them by the end of the first quarter of 2016.
The reductions will further improve the cost position of the Upstream business and ensure competitiveness in a lower pricing environment, including a 30 percent drop in the Midwest transaction aluminum... More
