Alcoa CEO Klaus Kleinfeld said on Monday that the company has shut down or sold 31% of its smelting capacity since the beginning of the decline, but he declined to say how much LME aluminum prices will be in order to re-start these capacity.
Last year, Alcoa sold three European rolling mills, closed an Australian project, and sold a portion of the Jamaican bauxite and alumina smelter.
Alcoa also said it plans to develop the potential of Suriname and sign a memorandum of understanding with the local government.
At the same time, the company is optimistic about the outlook for the alumina and aluminum markets and is not worried about the potential for oversupply.
Company Chief Financial Officer William Oplinger said in the company's fourth-quarter earnings report on Monday that all forms of aluminum prices, including the index period aluminum contract and regional premiums, will remain "under similar market conditions."