Investorplace‘s Dan Burrows wrote that Alcoa is “no longer just a boring old materials play on aluminum, Alcoa stock now represents a stake in a value-added industrial company that make high-tech products and alloys for the auto and aerospace markets.”
Alcoa will release its fourth quarter earnings Monday, kicking off the earnings season, and most analysts expect them to soar on an adjusted basis.
The cash price of primary Indian aluminum saw a 1.9% drop on Wednesday, January 7, landing at INR 113.45 ($1.78) per kilogram and making it the biggest mover of the day. The cash price of primary aluminum weakened by 1.1% on the LME, settling at $1,772 per metric ton. On the LME, the 3-month price of aluminum declined 0.9% to $1,806 per metric ton.
Chinese aluminum prices were mixed for the day. The price of Chinese aluminum scrap declined 0.8% to CNY 12,300 ($1,981) per metric ton. The cash price of Chinese aluminum saw a 0.4% decline to CNY 12,760 ($2,055) per metric ton. The price of Chinese aluminum bar reached a 30-day low after decreasing 0.4% to CNY 12,770 ($2,056) per metric ton. The price of Chinese aluminum billet remained essentially flat at CNY 13,200 ($2,126) per metric ton.