Alcoa Aluminum Shipments to Stagnate This Year

SEATTLE (Scrap Monster): Pittsburgh-based Alcoa Corporation announced outlook for 2022. The company expects total aluminum and alumina shipments to remain unchanged during the year.

Alcoa’s bauxite shipments are expected to range between 46.0 and 47.0 million dry metric tons, down by 2 million dry metric tons from the earlier forecast. The stoppage of bauxite sales to Russian businesses will result in production slowdown at its Juruti mine in Brazil by approximately 1.1 million dry metric tons. Meantime, it expects the total alumina and aluminum shipments to remain unchanged between 14.2 and 14.4 million metric tons, and between 2.5 and 2.6 million metric tons, respectively.

The alumina and aluminum realized third-party prices in second quarter 2022 are expected to be higher than the first quarter, based on current prices. The company expects second quarter tax expense to approximate $220 million to $230 million.

During the first quarter, Alcoa had signed an agreement to sell its entire stake in MRN in Brazil to South32 for $10 million. This transaction is expected to close in the second quarter of 2022.

Also, the company had announced that it would cease buying raw materials from, or selling products to, Russian businesses. The company has made alternate plans for securing the materials, without material financial impact.

YOU MAY ALSO BE INTERESTED IN:

Alcoa Received Funding for its Carbon Reduction Technology Pilot Project

Alcoa Commits to Build Low-Emission Mills Using Elysis Technology