CRU: Aluminum news roundup

“The expected sequential increase was driven primarily by the non-recurrence of a charge of $197 million recorded in the first quarter of 2024 related to the curtailment of the Kwinana refinery,” the company said.

Alcoa has closed the alumina refinery in Perth, Western Australia. This is in response to the unit running at a financial loss and 80% of its 2.2-million-metric-ton (mt) per-year capacity due to a natural gas shortage and delay in mining approvals.

The other main factor behind Q2’s anticipated profit is higher alumina and aluminum prices, which are forecast to lift sales revenue to a range of $2.85 billion to $2.93 billion from $2.60 billion in Q1 and $2.68 billion in the year-ago Q2. However, third-party alumina shipments will fall by around 5% on the 2.20 million mt in Q1 primarily due to Kwinana’s closure. In contrast, Alcoa’s deliveries of aluminum are likely to be 7% higher than the 634,000 mt in Q1, thanks to the timing of shipments and restart of a potline at the Warrick smelter in Indiana.

Fatality at Hydro’s joint venture Albras

A contractor passed away following an accident at Hydro’s joint-venture Albras in Brazil on July 9, Hydro reported.

The contractor was performing maintenance on an electrolysis cell when the accident happened. An investigation has been initiated alongside with the police force and relevant authorities to further determine the root cause of the incident.

“I am deeply saddened to learn about the fatality at our Albras joint-venture plant. This tragic incident underscores the critical importance of safety in everything we do. Our heartfelt condolences go out to the family and the affected colleagues,” said Eivind Kallevik, president and CEO of Hydro.

To learn more about CRU’s services, visit www.crugroup.com.