SMM5: not every year at Alcoa's shareholders' meeting in Pittsburgh to celebrate soaring share prices and restrictions on imports.
Last week Alcoa announced its intention to open new labor negotiations with workers and said the talks were aimed at reaching a multi-year agreement.
The American Steelworkers Union in Quebec said it supported the company's resolution.
"We have decided to participate," Clement Maas, president of the American Steel Union, said in a statement on Monday. Imagine if there were no workers, the factory wouldn't be able to run for so long. We knew for a long time that the company was losing its main profit. "
At the meeting, shareholders will listen to CEO Roy Harvey, who said, "in the face of uncertain trade policy, including in the context of US sanctions against Rusal, the world's second-largest aluminium producer, Vigorously push Alcoa forward. "
Earlier, the closure of a large alumina refinery in Brazil triggered a further impact on the market for major components of aluminium. Alcoa has opened its doors to sell more alumina on the public market.
ABI is 75 per cent owned by Alcoa and the other 25 per cent by Rio Tinto.
Alcoa spokesman Monica Obi said: "We respect the union's right to demonstrate and look forward to labor negotiations to solve the current problem.
Translated by Xiao Jiaqi, (SMM) of Shanghai Colored Network, from Bloomberg News & https://www.platts.com/latest-news/metals/washington/quebec-abi-aluminum-union-workers-locked-out-26869075
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