Alcoa cut its production guidance for alumina for the full year, citing issues at its Pinjarra refinery in Western Australia. Despite the ongoing Iran war upending aluminum supply chains, the company said alumina prices remained relatively stable.
Aluminum prices were up by 2% on the week. No surprise here because the complex tends to track crude oil prices closely.
A drone attack at EGA's Al Taweelah plant has triggered force majeure declarations on select products, with potential supply disruptions.
The aluminum industry is bracing for significant supply-chain repercussions after Iranian strikes hit two major Gulf smelters – Emirates Global Aluminium’s (EGA) Al Taweelah complex in the UAE and Aluminium Bahrain (Alba) – on March 28.
Aluminum producer Alcoa is getting more interest from customers as states in the Persian Gulf region curtail production amid the Iran war.
ALBA joins Qatar’s 40% curtailment of 260,000 tons, bringing cumulative curtailments to 560,000 tons.
CBA is a vertically integrated, low-carbon aluminum business in Brazil. It is supported by a 1.6-gigawatt portfolio of renewable power generation assets, including 21 hydropower plants and wind power complexes.
Let’s unpack the facts behind this move.
Atalco is getting a $450 million infusion to expand production in Louisiana
Alumina is the biggest cost to an aluminum smelter, closely followed by power.