Alcoa to Close or Curtail 531,000 Metric Tons of Capacity
Aluminum prices have fallen more than 27% from their peak in 2011. In addition to the curtailments, Alcoa will accelerate actions to reduce the escalating cost of raw materials. The curtailments are expected to be complete by the first half of 2012. Alcoa’s alumina production will be reduced across the global refining system to reflect the final curtailments in smelting as well as prevailing market conditions.