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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (769)	9/5/2001 3:48:43 AM
From: craig crawford	Read Replies (1) of 1643

Alcoa cuts production at Brazilian smelters biz.yahoo.com Tuesday September 4, 4:45 pm Eastern Time PITTSBURGH, Sept 4 (Reuters) - Alcoa Inc. (NYSE:AA - news) on Tuesday said it further cut aluminum production at its two aluminum smelters in Brazil as part of a nationwide energy rationing effort there. The company said curtailments will not be material to Alcoa's full year 2001 earnings. Production at Alcoa's Pocos de Caldas aluminum smelter had been cut by 25 percent, or 22,500 metric tons per year (mtpy) on June 1 and was further cut by 25 percent on Tuesday. Pocos de Caldas had been operating near nameplate capacity of 90,000 mtpy since 1979. Its current capacity is 45,000 mtpy, it said. Production at the Alumar smelter in Sao Luis in the northern region of Brazil had been cut by 63,000 mtpy on July 1 and another 29,500-mtpy as of Tuesday. With this latest reduction, about 25 percent of production at the 370,000-mtpy Alumar smelter has been curtailed. Alcoa Aluminio, Alcoa's Brazilian affiliate, receives 54 percent of Alumar's output.

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