It is reported that U.S. aluminium producer Alcoa Inc (AA.N) plans an orderly shutdown of its two Italian smelters by Feb. 6, despite government efforts to find energy at a competitive price.
It is reported that U.S. aluminium producer Alcoa Inc (AA.N) plans an orderly shutdown of its two Italian smelters by Feb. 6, despite government efforts to find energy at a competitive price.
The press release is quoted as saying:
The Italian government had presented the aluminum giant with an offer that would not necessarily forestall a smelter shutdown, but could lead to further discussions and a possible restart.In November, Alcoa said it would temporarily idle operations at the smelters with a total capacity of 194,000 tonnes a year after the European Commission ordered it to pay back most of the state aid it had received in Italy since 2006. As a result Alcoa anticipates a cash payment of $300-400 million and said it could not assume further financial risk.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1866.73 | -0.56 | |
Silver | 22.10 | -0.02 | |
Copper | 4.30 | -0.01 | |
Palladium | 2009.00 | +12.00 | |
Platinum | 957.50 | +1.50 | |
Oil | 110.39 | +0.62 | |
Heating Oil | 3.66 | +0.01 | |
Natural Gas | 8.88 | +0.08 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â