Alba discloses its Financial results for the first quarter of 2020

Alba discloses its Financial results for the first quarter of 2020

Aluminium Bahrain B.S.C. (Alba) the world's largest aluminium smelter w/o China, has generated Profit of BD 5.7 million (US$ 15.3 million) for the first quarter of 2020, up by 136% Year-over-Year (YoY) versus a Loss of BD 15.8 million (US$ 42 million) for the same period in 2019.. The Aluminium downstream has lowered output levels or has already shutdown.. China production up by 2% YoY [high-cost smelters curtailed their output thanks to drop in SHFE price].. Sales' volume topped 379,274 metric tonnes (MT) - up by 48% YoY while Production reached 388,637 MT - up by 43% YoY.. Commenting on Alba's financial performance for the first quarter of 2020, the Chairman of Alba's Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa stated: "As the world is facing unprecedented times with the novel COVID-19 outbreak, we managed to close the first quarter of this year with overall good performance despite depressed LME prices..