Aluminium maker Alcoa seeks to sell 10 sites to data centres

Core Viewpoint - Alcoa Corp is planning to sell 10 of its closed or curtailed sites to the data centre industry, with the first sale expected by the end of June [1] Group 1: Company Strategy - Alcoa's CEO, Bill Oplinger, stated that the company is focused on maximizing value and minimizing liabilities when selling assets [1] - The company is exploring the potential impact of AI on the valuations of its individual sites [1] Group 2: Market Context - Aluminium producers face competition for electricity supplies from data centres, which are energy-intensive [1] - High aluminium prices have not diminished demand in the U.S., but low alumina prices have resulted in 50% of global refineries being cash negative [1] - This situation is expected to lead to cutbacks in alumina production, although Alcoa does not plan to reduce its output [1]