June 2012 | Aluminium Weekly Market Tracker
Brazil – still awaiting firm news: Electricity analysis
Whether Alcoa will close its smelters in Brazil remains uncertain.
In Brazil the clock is ticking in terms of the extension given by Alcoa to the Brazilian government when it comes to making a decision on power rates. In our April Electricity report we noted that Alcoa had pushed out the decision until late-May early-June to give the government time to complete its review on energy costs. While reports leaked in mid-May implied that both cuts and a simplification of the taxation system for both electricity producers and distributors were coming. Cuts amounting to 3-10%...
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