Alcoa Corp is mulling the restart of idled aluminium and alumina capacity, a top executive said, citing high prices and the expectation of a material deficit in both markets this year.
"We continue to monitor global and regional market prices and other factors in deciding whether to restart some of our curtailed capacity, which is mostly in the United States and Brazil," Alcoa president and chief executive officer Roy Harvey said during an earnings call on Wednesday April 18.Of Alcoa's 3.4 million tonnes of total smelting capacity, the company has about 900,000 tonnes of curtailed capacity, he noted.The current price volatility - caused by tariffs, sanctions, alumina supply disruptions in Brazil and regulatory reforms in China - is beneficial for Alcoa given its "globally diversified portfolio and long positions in bauxite, alumina and aluminium," according to Harvey. "We are seeing an unprecedented confluence of...