The company's shares were down 1.6 percent in extended trading, reversing course after rising as much as 3.5 percent to $30.
Alcoa Mining News
If a community or government wants a bigger share of the pie, they may need to be willing to take on more of the risk.
Figure is fivefold increase from August, up 3,400% y/y
The first spot transaction sees 3,000 tonnes of alumina change hands at $437.23 a tonne.
The Aviles and La Coruna plants were two of the least productive due to intrinsic structural problems such as inefficient technology and high fixed costs.
No one will be taking alumina for granted any more.
The strike added to recent supply pressure on bauxite and alumina, key raw materials for aluminium production.
The union at Alcoa's aluminium operations said it was meeting with the company again on Wednesday to try to resolve a strike that has lasted more than six weeks.
Around 1,500 staff at three alumina refineries and two bauxite mines walked out on Aug. 8 over a new workplace agreement they say does not offer sufficient job security.
Aluminum prices jumped in April after the U.S. announced sanctions on Rusal, the top supplier outside of China.
A vote by the striking workers on whether to accept a new workplace agreement is due to close on Thursday, with the union anticipating a strong "no" vote.
A vote by striking workers at Alcoa’s (AA.N) giant west Australian operations will close on Thursday, with the union anticipating a strong “no” vote.
Alcoa and Rio Tinto announced the launching of Elysis, a joint venture company whose goal is to push towards commercial production a newly discovered, carbon-free aluminum smelting process.
The smelter, which produces some 430,000 metric tonnes of aluminum annually, has been operating at reduced capacity by non-union workers since Jan. 11.
Glencore drops 11% in brand value after various allegations against it in the Paradise Papers.
Collective agreement for 1,030 unionized workers expires 11:59 EST Wednesday, after workers can legally strike and Alcoa will have right to lock them out.
The move is aimed at advancing the Sconi cobalt-nickel-scandium project in Queensland
Top miners BHP Billiton, Rio Tinto, Vale and Anglo American are among the firms at risk of rating downgrade.
The mining side will keep the Alcoa name.
They'll hand back more than 175,000 hectares of prime conservation land they have held since 1971 to West Australia, ditching plans to build a bauxite mine and an alumina refinery in the area.
Market struggling with oversupply.
About 3,300 people would lose their jobs.
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?