Aluminum futures prices have dropped to their lowest level in four years, near $1, 765 per metric ton, nearly $1,000 below the peak price in the spring of 2011.
The Fusina smelter has been producing about 44,000 metric tons of aluminum a year, just 1% of Alcoa’s total capacity of 4.2 million metric tons. The company also has another 460,000 metric tons of capacity under review for curtailment or closure.
Shares of Alcoa are down about 0.4% today, at $7.84 in a 52-week range of $7.71 to $9.93.
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