Alcoa Corp., a leading aluminum producer in the US, posted its revenue of US$2.6 billion for the third quarter of this year, dropping by 2.99% compared to the preceding quarter and by 8.7% compared to the same period a year ago, on the grounds of lower average third-party realized prices for alumina and aluminum, while some price drops were partially offset by increased alumina and aluminum shipments.
During the period, Alcoa’s third-party shipments of alumina grew by 11% quarter on quarter as trade and shipments increased across global refining systems. The shipments of aluminum slightly hiked by 1% quarter on quarter.
In terms of production, Alcoa’s alumina production climbed by 10% quarter on quarter to 2.8 million tons, mainly due to higher output at the Alumar refinery in Brazil after the maintenance and increased output from Australian refineries that are adapting to lower-grade bauxite.
As for aluminum, the production reached 532,000 tons in the third quarter, an increase of 2% compared to the previous quarter.
Alcoa’s alumina & aluminum production grows in Q3 q-o-q
24 Oct 2023 15:06 reported by Joy Liu
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