Alcoa reports earnings this Wednesday. The aluminum manufacturer is hoping to boost earnings by producing less aluminum, or smelting. Increased competition, especially from China, is pressuring Alcoa to reduce costs, close smelting plants and focus on more sophisticated finished aluminum products. This part of a strategy to compete against China, which once produced 5 percent of the world’s aluminum. Now it produces 50. And it’s being exported.
Click the media player above to hear more.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.