On June 15, Century Aluminum declined 11.48% in regular trading, trading at $54.45/share, with turnover of approximately $85.80 million.
On the news front, the United States and Iran reached a ceasefire framework agreement, which includes commitments to lift sanctions, end the naval blockade, and reopen the Strait of Hormuz. The market expects a significant easing of Middle East aluminum supply disruptions that had previously pushed London aluminum futures near four-year highs.
Middle East electrolytic aluminum capacity accounts for 9% of global output. Regional aluminum producers rely on the Strait of Hormuz to export finished aluminum and import alumina feedstock. The prolonged blockade had caused Gulf aluminum plant output to decline 35% year-over-year in April. With shipping lanes expected to normalize, London aluminum futures dropped sharply to a two-month low, pressuring the entire aluminum sector. Among peers, Alcoa fell 8.03%, Kaiser Aluminum fell 4.07%, and Constellium fell 2.84%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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