NZ Tiwai Point smelter cut another 5% production to 90%

The Tiwai Point aluminium smelter in New Zealand, majority-owned by Rio Tinto Alcan, has cut its production by another 5% with currently operating at 90% of normal levels. Power prices are surging in the country due to low water levels in the hydro system, about 65% of average but demand in southern part is increasing. The smelter enjoys a long-term power supply contract for 90% of its demand with 10% purchased from the spot market. It said it was working with customers to minimize any disruption to shipments. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.