SMM10, March 17: Alcoa (Alcoa) said a few days ago that because of concerns about the global economic situation and expected global demand to shrink by 0.6%, the company plans to sell non-core assets in the next 18 months to increase its net income by $500m to $1 billion.
The company also plans to readjust its operating portfolio, which is expected to begin in the second quarter of 2020 and to assess 1.5 million tons of smelting capacity and 4 million tons of alumina smelting capacity over the next five years, or will consider major improvements to related capacity, involving cuts, closures or stripping.
In its latest earnings report, the company said its forecast for bauxite, alumina and aluminum shipments for 2019 remained unchanged from its previous full-year forecast.
The total annual bauxite shipment is expected to be between 47 million and 48 million tons. Total alumina shipments are expected to be between 13.6 million and 13.7 million metric tons. Aluminum shipments are expected to be between 2.8 million and 2.9 million tons.
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