Alcoa beats earnings, warns tariffs could tighten aluminum market

As Alcoa looks ahead to 2025, the company is keeping a close watch on trade policies while focusing on growing its value-added aluminum products and securing its supply chain, despite global challenges. In the fourth quarter, aluminum production at the Alumar smelter in Brazil increased by 2%, reaching 571,000 metric tons as the facility continues its restart process. Although aluminum shipments stayed flat at 641,000 metric tons, the aluminum segment’s revenue grew by 5%, driven by higher prices.

For the full year, Alcoa boosted aluminum production by 5%, thanks to the restart of the Warrick and Alumar smelters. Average aluminum prices hit $3,006/mt in the fourth quarter, the company’s best pricing of the year. Alcoa also set production records at five smelters in the U.S., Canada, and Norway, helping drive annual revenue to $11.9 billion, a 13% increase compared to 2023.