Movement Alert|Alcoa Corporation Rises 5.23% in Regular Trading, Global Aluminum Supply Shortage Intensifies as Premiums Hit Record Highs

Market Focus06-02

On June 2, Alcoa Corporation rose 5.23% in regular trading, trading at $81.75/share, with trading volume of $114 million. The rally was driven by a deepening global aluminum supply crisis and surging premiums.

On the news front, the US Midwest aluminum premium has surged to a record high of $2,557 per ton, while LME aluminum prices approach $3,670 per ton, pushing the total cost of aluminum for US consumers above $6,200 per ton. UBS previously upgraded Alcoa to Buy with an $80 price target, which the stock has now surpassed. The company reported Q1 net income of $425 million, representing significant sequential growth.

Within the Aluminum sector, peers also posted gains: Century Aluminum up 8.76%, Kaiser Aluminum up 4.11%, Constellium NV up 3.75%, and Tredegar up 0.97%, reflecting broad sector strength amid supply tightness.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment