The AliGroup deal for South32 assets is on track to close in the first half of 2027, with expected capital expenditure increasing by $350 million to $450 million annually.
Canadian imports faced a 50% tariff, creating more than $1 billion in cost; the Midwest premium fully offset it, and a tariff cut would boost results.
Conference remarks on demand, alumina and aluminum markets
At Jefferies Global Industrials Conference 2026, CFO Molly Beerman told investors demand stayed strong in North America and Europe.
The alumina market remained in surplus despite prices near $350; the Yarwun curtailment in October 2026 is expected to remove 40% of supply.
Aluminum remained in global deficit; the value-add order book is nearly sold out for the rest of 2026, and 2027 contracting is seen as supportive.
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