Rio Tinto Cuts 2018 Aluminum Production Target To 340-3.5 Million Tons

- Oct 18, 2018-

Rio Tinto cut its 2018 aluminum production target to 340-3.5 million tons. Rio Tinto announced on Tuesday that it will cut its 2018 aluminum production target by 4.2% to 3.4-3.5 million tons, influenced by the industrial operation of the Becancour smelter in Canada. The company's third-quarter quarterly report showed that the company's target is 3.5-3.7 million tons. In the third quarter, Rio Tinto's aluminum output was 880,000 tons, slightly lower than the 887,000 tons in the same period of last year and a 2.6% increase from the previous month. The company's cumulative aluminum output in the first three quarters was 2.58 million tons, down 3% year-on-year. In the third quarter, Rio Tinto's bauxite production was 12.7 million tons, down 1.3% year-on-year and 4.4% quarter-on-quarter. In the first three quarters, the cumulative output of bauxite was 38.63 million tons, a year-on-year increase of 4.3%. The company also revised its annual bauxite production, increasing its expected share from 4,900 to 51 million tons to 5,000-51 million tons. The company expects its Amrun bauxite development in Queensland, Australia to be completed ahead of schedule. It is expected that the first bauxite will be shipped in the fourth quarter of 2018 and will be fully operational in 2019. The alumina production in the third quarter was 1.97 million tons, a slight decrease from the 1.98 million tons in the same period last year and the 2 million tons in the second quarter of this year. The cumulative output of alumina in the first three quarters was 5.96 million tons, a year-on-year decrease of 1.6%. Rio Tinto said it expects alumina production to reach 800-8.2 million tons in 2018.