Alcoa Corp expects alumina shipment to drop in 2023, shares fall

Alumina

19/01/2023 11:17

** Shares of aluminum producer Alcoa Corp  AA.N  down 6% at
$50.20 premarket
    ** Alcoa expects total alumina shipments in 2023 to range
between 12.7 mln and 12.9 million metric tons, a decrease of 0.5
million metric tons from a year earlier, due to partial
curtailment of the San Ciprián refinery and lower bauxite
quality at Australian refineries
    ** Shares of Australia's Alumina Ltd  AWC.AX  slump on JV
partner Alcoa's dismal outlook
    ** Earlier this month, Alcoa said it expects production at
its partially owned Kwinana alumina refinery in Western
Australia to drop about 30% due to shortage of gas supply
    ** Stock up 17.6% this year, after a 24% fall in 2022
 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))