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Alcoa Unveils Plans To Curb Alumina Production

DOW JONES NEWSWIRES Alcoa Inc. (AA) said it plans to cut alumina production by about 390,000 metric tons a year, in an effort to align output with its plans to reduce smelter capacity by 12% in the first half of this year amid high costs and slumping prices. The latest cutbacks come less than a week before Alcoa, an industrial bellwether that unofficially kicks off the U.S. earnings season, releases its first-quarter results on Tuesday after the bell. The aluminum producer on Thursday said the move will reduce its capacity in the Atlantic region by about 4%. The region, where it aims to avoid adding to an oversupply, accounts for about half of the company's refining capacity of about 18 million metric tons a year. Alcoa in January reported that swung to a fourth-quarter loss amid slumping prices and rising costs. The company's profit had been surging in previous quarters thanks to demand from automobile and aerospace companies and emerging markets like China, but third-quarter results disappointed as demand weakened in areas like Europe, aluminum prices continued to fall and raw-materials costs climbed. Shares were down 4 cents at $9.77 in premarket trading. Through Wednesday's close, the stock is down 46% in the past year. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

Stock News for Alcoa (AA)
DateTimeHeadline
07/02/201513:51:42Statement of Changes in Beneficial Ownership (4)
07/02/201513:50:19Statement of Changes in Beneficial Ownership (4)
07/02/201513:48:38Statement of Changes in Beneficial Ownership (4)
07/02/201513:47:42Statement of Changes in Beneficial Ownership (4)
07/02/201513:46:49Statement of Changes in Beneficial Ownership (4)
07/02/201513:45:53Statement of Changes in Beneficial Ownership (4)
07/02/201513:44:19Statement of Changes in Beneficial Ownership (4)
07/02/201513:43:28Statement of Changes in Beneficial Ownership (4)
07/01/201516:04:22Statement of Changes in Beneficial Ownership (4)
07/01/201514:06:03Alcoa Earnings: What Investors Want to See From the Aluminum...
06/30/201511:10:06Alcoa to Close Smelter in Brazil
06/30/201508:30:00Alcoa to Close Poços Smelter in Brazil
06/29/201513:30:00Alcoa to Host Webcast of Second Quarter 2015 Results
06/26/201508:50:07U.S. Stock Futures Edge Higher
06/25/201502:58:23Why I’d Ditch BT Group plc And Buy These 3 Stocks: Auto Trader G...
06/22/201506:01:37Notice of Effectiveness (effect)
06/19/201517:11:08Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)
06/19/201508:30:00Alcoa Innovation Drives Strong Sustainability Results
06/10/201517:14:25Registration Statement for Securities to Be Issued in Business...
06/04/201508:55:00New, Sleeker Samsung Smartphone Built Stronger with Alcoa’s A...

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