The operations at the Rio’s Icelandic Aluminium smelters may face closure following the reviewal from the management. The output from the smelter operations have already been cut down by 85% following the issues of profitability encircling the operations.
The low Aluminium prices under the weak market conditions provide little scope of recovery due to low margin and the company is currently in discussions with the Government of Iceland and power provider, Landsvirkjun to minimise the power costs.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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