Home Commodities Alcoa Expects Higher Aluminum Production This Year — Commodity Comment

Alcoa Expects Higher Aluminum Production This Year — Commodity Comment

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Published: Jan. 17, 2024 at 6:20 p.m. ET

By Stephen Nakrosis

The coming year should see slightly higher aluminum production, while alumina output is expected to decline, Alcoa said on Wednesday.

On aluminum production:

The…

By Stephen Nakrosis

The coming year should see slightly higher aluminum production, while alumina output is expected to decline, Alcoa said on Wednesday.

On aluminum production:

The company said it was expecting the aluminum segment to produce 2.2 million to 2.3 million metric tons, up from 2.11 million metric tons in 2023. The increase is because of smelter restarts, Alcoa said.

Aluminum shipments are expected to be consistent with 2023, between 2.5 million and 2.6 million metric tons, “as increased shipments from smelter restarts are offset by lower trading volumes,” Alcoa said.

On alumina production:

Alumina production is expected in a range between 9.8 million and 10.0 million metric tons, while alumina shipments are expected to range between 12.7 million and 12.9 million metric tons in 2024, the company said. “The difference between production and shipments reflects trading volumes and externally sourced alumina to fulfill customer contracts due to the curtailment of the Kwinana refinery,” Alcoa said.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

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