This Morning in Metals: Alcoa releases Q4, 2019 financial results - Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting
Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMinerSourcing & Trading Intelligence for Global Metals Markets. “In 2019, we acted to further strengthen Alcoa, completing the divestiture of uncompetitive assets, modernizing labor agreements in three countries, implementing a new operating model, and making quick progress on the asset review process we announced last quarter,” Alcoa President and CEO Roy Harvey said. “Also, our low-cost, top-tier bauxite and alumina segments both set new annual production records based on our current portfolio.”. For the full-year 2019, Alcoa reported a net loss of $1,125 million and an adjusted net loss of $184 million, compared with profits of $250 million in 2018. According to a report by Toledo’s WTOL, investment at a steel plant in Delta, Ohio, could see to the addition of 100 jobs. North Star BlueScope Steel, owner of the Delta plant, said it would take about two years to complete an additional building at the plant, which they said would bring in new jobs.