Aluminum rebound boosts Alcoa, easing fears of global slowdown
Views : 117
Update time : 2022-10-25 15:30:20
Alcoa faces challenges this year. A possible ban by the London Metal Exchange (LME) or the US on Russia, the world's second-largest rare earth producer, also added to market uncertainty. Certainty, a series of issues dented the company's profitability.
Alcoa's shares recovered despite a surprise quarterly loss.
The company just warned investors last month that it was being squeezed by rising costs and falling aluminum prices.
Shares in Alcoa, however, rose by 9.5% on New York Stock Exchange last Thursday. A recovery in metals prices boosted shares of Alcoa and other aluminum and steel makers, eclipsing concerns about slowing demand for metals in the heavy industry around the world.
Entering the Chinese New Year holiday, market trading is sluggish
Trade & Pricing: Europe's billet market trend 2024-2025
