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.)
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