Alcoa Corp., a leading aluminum producer in the US, lowered its bauxite shipment forecast by 2 million tons for 2022, expecting to ship 46 million to 47 million tons of bauxite this year. The company said that the output in its Juruti bauxite mine in Brazil will decrease by around 1.1 million tons this year.
The adjustment was mainly due to the company's decision last month to cooperate with Western sanctions to suspend bauxite sales to Russian companies and the market disruption caused by Russia's invasion of Ukraine.
Bauxite is a key raw material for aluminum making.
Alcoa lowers bauxite shipment forecast, affected by sanction imposed on Russia
25 Apr 2022 15:19 reported by Joy Liu
- A
- A
- A