As Ferndale's Intalco smelter nears curtailment, chances of saving it look bleak

Workers and local officials have fought for years to keep the Intalco Works aluminum smelter operating near Ferndale. This latest potential curtailment is turning into its toughest challenge yet.

Alcoa announced on April 22 that it will be curtailing operations at the end of July, laying off 700 workers. A small crew is expected to remain to maintain the facility in the hopes that one day operations will restart.

The chances of it restarting appear bleak during this coronavirus pandemic. In its announcement Alcoa cited declining market conditions as a main factor for the curtailment, with the facility losing $24 million in the first quarter of 2020.

The price of aluminum has seen a dramatic drop in the past two years, even before the pandemic took hold around the world. According to the London Metal Exchange, smelters could sell aluminum for nearly $2,600 a ton in April 2018. That dropped to around $1,900 in April 2019. Last month the price was around $1,420.

https://www.msn.com/en-us/money/markets/as-ferndale-s-intalco-smelter-nears-curtailment-chances-of-saving-it-look-bleak/ar-BB145mkl?ocid=hplocalnews