Company expects aluminum demand to increase 7% this year
US and Canadian markets dipped on Wednesday as earnings season began with Alcoa (NYSE:AA), the world's leading producer of aluminum, forecasting slower demand for the metal.
Question: If Alcoa misses Tuesday's Wall Street’s profit target is that a troubling sign for the rest of corporate America and the stock market, which has yet to take a haircut despite declining profit expectations for the third quarter?
Brazil's aluminum output in March went up 3.7% to 125,000 tonnes, according to the national aluminum association, Abal.
Alcoa (NYSE: AA) announced today that the Company will reduce its annual alumina production capacity by approximately 390,000 metric tons to align production with smelter curtailments Alcoa announced earlier this year and to reflect prevailing market conditions.
U.S. aluminum producer Alcoa Inc (AA.N: Quote) said on Friday it won a multiyear contract worth about $1 billion to supply its new, lighter aluminum-based alloys for Airbus commercial aircraft.
The news sent Alcoa stock up almost 1.8 percent to $15.55 in early trading on the New York Stock Exchange on a day when the broader market fell. Later in the morning, the shares were up 8 cents to $15.36.
Image of an Airbus aircraft, operated by DHL, by Wikimedia Commons
Alcoa Inc. (AA) has kicked off another earnings season with its first quarter posting of 27 cents earnings per share (EPS) on revenues of $5.96 billion. This met the Zacks Consensus Estimate on the EPS side, but was down slightly …
Bloomberg News reports: United Co. Rusal, the biggest aluminum producer, is trailing Alcoa Inc. and all other peers as billionaire founder Oleg Deripaska snubs shareholders’ pleas to end a two-year battle for control of OAO GMK Norilsk Nickel. Rusal, trading at about …
The aluminum market's lifeblood is manufacturing and packaging – and times are looking better in these early days of 2011. The metal is now trading at $2,505 per metric ton and continues to bounce around the $2,550 level, MF Global writes in a LME Daily Metals Report this week. While there's a strong floor at $2,430, upside resistance kicks in around $2,541, it said.
Alcoa's operating earning beats Wall Street estimates as revenue rises 4% to $5.7bln. CEO predicts more aluminum growth this year.
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