Alcoa Strikes Deal to Keep Intalco Smelter Open

Reuters reported that Alcoa Inc. (NYSE:AA) has struck a new power deal for its Washington-based Intalco aluminum smelter. The smelter is one of the last remaining US aluminum plants.
As quoted in the market news:

[Alcoa and the plant’s power supplier] struck a deal starting on July 1 that would keep 2.5 potlines open at the plant, according to a posting on the Bonneville Power Authority (BPA) website.
The plant was slated to close by the end of June.
Alcoa shuttered its 269 000 t/y Warrick smelter at the end of March, bringing US aluminium output to its lowest in more than 65 years as the industry struggles with low metal prices amid rising tensions with China.
Terms of the deal were not disclosed, but the BPA is seeking comment on the agreement by April 22.

Click here to read the full Reuters report.