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 of China. Show all posts
Showing posts with label Alumina Corp of China. Show all posts
Monday, January 3, 2011
Wednesday, December 29, 2010
Aluminum Corp. of China (NYSE:ACH) to Sell Debt Securities
The largest producer of aluminum in China, Aluminum Corp. of China (NYSE:ACH), announced they're going to sell debt securites, with the board of the company already giving their approval.
They'll sell the debt securities on the interbank market in the country.
In a statement to the Shanghai stock exchange, Chalco stated the outstanding debt instruments, which includes 22 billion yuan ($3.32 billion) of short-term paper and medium-term bills already sold, won’t go beyond 47 billion yuan after the new sales are completed.
The company is raising capital to invest in overseas assets to ramp up production, including iron-ore and copper assets, which continue to be in strong demand.
Excess capacity in the aluminum industry has resulted in Standard & Poor’s given them a “negative outlook,” although they did affirm the BBB+ foreign currency long-term credit rating of Chalco in November.
Aluminum Corp. of China was trading at $22.75, up $0.34, or 1.52 percent, as of 2:11 PM EST.
They'll sell the debt securities on the interbank market in the country.
In a statement to the Shanghai stock exchange, Chalco stated the outstanding debt instruments, which includes 22 billion yuan ($3.32 billion) of short-term paper and medium-term bills already sold, won’t go beyond 47 billion yuan after the new sales are completed.
The company is raising capital to invest in overseas assets to ramp up production, including iron-ore and copper assets, which continue to be in strong demand.
Excess capacity in the aluminum industry has resulted in Standard & Poor’s given them a “negative outlook,” although they did affirm the BBB+ foreign currency long-term credit rating of Chalco in November.
Aluminum Corp. of China was trading at $22.75, up $0.34, or 1.52 percent, as of 2:11 PM EST.
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