Alcoa Foresees Robust Aluminum Demand Across End-Markets

SEATTLE (Scrap Monster):  Alcoa Corporation reported significant progress against its five-year review of production assets. The review, covering 1.5 million metric tons of smelting capacity, had commenced in October 2019.

According to the company it has addressed more than 700,000 metric tons of global aluminum smelting capacity, since the commencement of the review. Alcoa completed curtailment of the Intalco smelter in Washington State, repowered the Portland smelter in Australia and restarted 268,000 metric tons of aluminum capacity at the Alumar Smelter in Brazil.

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Announcing future plans for the San Ciprian aluminum smelter in Spain, it reiterated the commitment to transfer the aluminum smelter to a third party as soon as the implementation of a competitive energy framework by the Spanish government authorities.

Meantime, Alcoa announced its ambition to reach net zero greenhouse gas (GHG) emissions by 2050 for Scope 1 and Scope 2 emissions. The existing target is to reduce direct and indirect GHG emissions by 30% and 50% by 2025 and 2030 respectively. The above are in comparison with the 2015 baseline.

The company’s alumina and aluminum shipments in 2021 are projected at 14.1 to 14.2 million metric tons and 2.9 to 3.0 million metric tons respectively. It expects strong economic recovery and increased aluminum demand from all end markets during the remainder of the year.