Aluminium: Alcoa takes aim at their high-cost European smelters

Alcoa Inc said on Monday it plans to close its Portovesme, Italy, smelter and slash output at two Spanish smelters as the U.S. aluminum producer takes aim at its high-cost European operations.

Low aluminum prices, non competitive electricity prices and sustained low aluminum demand have pushed the plants into the red.

But the plan, which is part of the measures announced last week to reduce output by 12 percent by the end of June, will throw further doubt on the long-term future of Alcoa's embattled smelting operations in Europe.

For more: Alcoa takes aim at their high-cost European smelters - chicagotribune.com