On June 18, Century Aluminum fell 5.42% in regular trading, trading at $51.365/share, with turnover of $57.61 million, as the aluminum sector extended its recent weakness.
On the news front, the US-Iran ceasefire framework agreement and planned resumption of navigation through the Strait of Hormuz have continued to weigh on aluminum prices and related equities. The prior blockade of the strait caused Gulf aluminum smelter output to decline 35% year-over-year in April, with Middle East electrolytic aluminum capacity accounting for approximately 9% of global total. LME aluminum fell roughly 5% this week to around $3,356.50 per tonne as geopolitical risk premiums rapidly dissipated and long positions were unwound at scale. Analysts have noted that 500,000 to 1,000,000 tonnes of stockpiled Middle East aluminum could be released once shipping resumes, while Indonesian smelter capacity additions further compound supply pressure. Within the sector, Alcoa declined 3.48%, reflecting broad-based weakness across aluminum producers.
(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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