Status of American Speciality Aluminum 2.4 billion dollar plant in central LA?

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red tape is holding it up

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shocking ! Gotta make sure the right pockets get lined first.

There is no money in aluminum. Look at all of the financial troubles Alcoa has had over the past few decades.

The problems with Alcoa was mismanagement and their price hikes for aluminum rod. A lot of domestic aluminum rod suppliers and manufactures like South Wire, Kaiser and General Cable have thrived. I work in the industry. It's very difficult for domestic aluminum plants to sustain success. The price of labor in this country combined with how labor intensive aluminum industry is makes it a narrow profit margin.

It is definitely not happening regardless of the lawsuit as numerous warehouses that were leased up in Louisiana and started stock piling aluminum have within the last five months began moving the aluminum out of state and the warehouses have been put up for lease. Goldman Sachs and several other investment banks spent some serious coin upgrading several of these warehouses and pulled the plug.

The investment banks were stock piling aluminum in Louisiana in anticipation for this new plant to be opened over the last 2-3 years. Now they are moving all of the aluminum up to Ohio/Kentucky in anticipation of billion dollar plus aluminum plant being opened or moving it to Alabama instead of Louisiana.

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