Alcoa Cuts 2026 Alumina Production Outlook Due to Refinery Issues in Western Australia
Aluminum producer Alcoa reduced its 2026 alumina production guidance by 200,000 to 300,000 metric tons, now expecting 9.5-9.6 million metric tons, citing instability at its Pinjarra refinery in Western Australia exacerbated by gas supply disruptions from Cyclone Narelle. The company also lowered alumina shipment expectations to 11.5-11.6 million metric tons and reported a negative adjusted EBITDA of $96 million for its alumina segment in Q2, driven by energy contract losses and higher production costs. Despite these challenges, Alcoa reported overall revenue of nearly $4 billion (up 31% year-over-year) and net income of $407 million. CEO William Oplinger noted the Pinjarra refinery has returned to stable operating rates, and alumina prices remain solid amid geopolitical disruptions in the Middle East.
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