Most of the companies with strong aluminum exposure like Aluminum Corp (NYSE:ACH), Alumina (NYSE:AWC), Alcoa (NYSE:AA) and Century Aluminum (NASDAQ:CENX) got knocked down near the first part of January 2010, and most of them are still struggling to recover, although over the last several months they have rebounded some.
Aluminum Corp. ended the year at $22.79, gaining $0.23 on December 31, up 0.09 percent. The company had a 52-week trading range of $18.03 to $34.27. They ended the year with a market cap of $12.34 billion.
Alumina (NYSE:AWC) closed the year out at $10.18, losing $0.02 on the last trading day, down 0.20 percent. The trading range for 2010 was from $4.76 to $10.35. They ended the year with a market cap of $6.21 billion. Alumina was one of the more consistent and profitable performers in the aluminum sector in 2010.
Alcoa (NYSE:AA finished off the year at $15.39, gaining $0.18 on Friday, up 1.18 percent. The 2010 trading range for them was $9.81 to $17.60. They closed off the year with a market cap of $15.72 billion.
Century Aluminum ended 2010 at $15.53, down $0.18 on the final trading day of the year, losing 1.15 percent. Their trading range for the year was $8.25 to $18.77. Their market cap heading into 2011 is $1.44 billion.
Showing posts with label Alumina Corp. Show all posts
Showing posts with label Alumina Corp. Show all posts
Monday, January 3, 2011
Tuesday, November 23, 2010
Alcoa (NYSE:AA), Alumina (NYSE:AWC), Reliance (NYSE:RS), Century (NASDAQ:CENX), Kaiser (NASDAQ:KALU) Plunge on Aluminum Oversupply Concerns
Alcoa (NYSE:AA), Alumina (NYSE:AWC), Reliance (NYSE:RS), Century (NASDAQ:CENX), Kaiser (NASDAQ:KALU), along with other aluminum-exposed companies, are getting hit hard today on news oversupply could push down prices.
The aluminum industry has attempt to create a narrative of strong demand over the next decade or so, but in the short-term that probably won't be the case, and depending on economic conditions, could be under pressure in the mid-term as well.
Today's downward pressure is from the announcement premiums on shipments to Japan will probably fall in the first quarter of 2011 on oversupply in the market.
A growing number of analyst also believe pressure on pricing is a trend and not a temporary situation; bad news for an already struggling aluminum sector.
Alcoa was trading at $13.13, falling by $0.16, or 1.20 percent at 1:22 PM EST. Alumina was at $7.81, dropping $0.34, or 4.17 percent. Reliance was down to $44.37, losing $1.00, or 2.20 percent. Century was at $14.09, declining $0.35, or 2.42 percent. Kaiser plummeted to $46.60, falling $0.82, or 1.73 percent.
The aluminum industry has attempt to create a narrative of strong demand over the next decade or so, but in the short-term that probably won't be the case, and depending on economic conditions, could be under pressure in the mid-term as well.
Today's downward pressure is from the announcement premiums on shipments to Japan will probably fall in the first quarter of 2011 on oversupply in the market.
A growing number of analyst also believe pressure on pricing is a trend and not a temporary situation; bad news for an already struggling aluminum sector.
Alcoa was trading at $13.13, falling by $0.16, or 1.20 percent at 1:22 PM EST. Alumina was at $7.81, dropping $0.34, or 4.17 percent. Reliance was down to $44.37, losing $1.00, or 2.20 percent. Century was at $14.09, declining $0.35, or 2.42 percent. Kaiser plummeted to $46.60, falling $0.82, or 1.73 percent.
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