Alumina Limited managing director Mike Ferraro expects the inflationary pressures that pushed his company’s unit costs up by 32 per cent over the past year have peaked, in a welcome sign amid a slump in prices for Alumina’s eponymous commodity.
Asked whether inflationary pressures would soon push the refineries to the point of being break-even, Mr Ferraro said he was confident the peak had passed.“We are seeing some coming off in costs in the context of caustic prices reducing,” he said. Alumina owns 40 per cent of that joint venture and receives dividends from it. Alumina received $US162 million from the joint venture in the past six months and recorded a statutory profit of $US167.9 million.
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