Company Of The Day: Alcoa

August 31st, 2021 by Trefis Team
-2.70%
Downside
35.53
Market
34.57
Trefis
AA: Alcoa logo
AA
Alcoa

What?

Aluminum prices are approaching 10-year highs, with Aluminum forwards on the London Metal Exchange climbing to about $2,650 a metric ton, about 80% higher versus May 2020 levels. This should prove positive for Alcoa (NYSE:AA), a mining giant engaged in Aluminum, Alumina, and Bauxite mining.

Why?

Relevant Articles
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  3. What To Anticipate From Alcoa’s Q1 Results?
  4. What’s Next For Alcoa After Tough Q4 Results?
  5. Buy, Sell, or Hold Alcoa Stock As Aluminum Prices Remain Soft?
  6. Falling Aluminum Prices Will Weigh On Alcoa’s Q3 Results

While surging demand following the Covid-19 re-opening and logistics issues have been a factor driving up prices, stricter environmental regulations in China – the largest producer and consumer of the metal – have also hurt supply.

So What?

Alcoa’s profits over Q2 2021 reached record highs. The stock has rallied by almost 90% this year.

See Our Complete Analysis For Alcoa

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