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Alcoa Warns as Much as 20% of Aluminum Capacity Is Unprofitable

  • Surging costs are squeezing metal makers around the world
  • Company authorizes an additional $500 million share buyback
Aluminum To Surge As Russia Attacks In Ukraine Disrupt Supply
Photographer: Luke Sharrett/Bloomberg
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Alcoa Corp. warned that surging costs around the globe have rendered as much as 20% of aluminum-production capacity unprofitable.

Despite rising worldwide aluminum demand, Alcoa will be pinched by escalating costs for energy and raw materials, Chief Executive Roy Harvey said during a call with analysts on Thursday.