Alcoa Reports Another Quarterly Loss with Falling Aluminum Prices and Pressured Margins

The largest US Aluminum producer Alcoa reported a second consecutive quarterly loss as expected for the fourth quarter on Wednesday but missed on revenue. The company has been squeezed by higher energy and raw material costs and restructuring charges putting pressure on margins. $AA projects 2023 total alumina shipments of 12.7-12.9 million metric tons and aluminum shipments between 2.5-2.6 million metric tons. $AA traded down 5.5% after the release. Aluminum is down roughly 40% from a record high of approximately $4,000 … Continue reading “Alcoa Reports Another Quarterly Loss with Falling Aluminum Prices and Pressured Margins”

Alcoa Surprise Loss on Falling Aluminum Prices and Rising Costs

The largest US Aluminum producer Alcoa reported worse than expected third quarter earnings on Wednesday. $AA warned just five weeks ago it was squeezed by higher energy and raw material costs and restructuring charges. Throw in falling Aluminum prices and the squeeze impact was obviously more than warned. The company reported an adjusted loss of $60 million or 33 cents a share, missing the average estimate of 8 cents profit. Aluminum prices are down more than 20% this year and … Continue reading “Alcoa Surprise Loss on Falling Aluminum Prices and Rising Costs”

Aluminum Prices Soar to Ten Year Highs After Guinea Coup Strangles Bauxite Supplies

Aluminum futures prices soared to their highest in more than a decade after a coup in Guinea fueled concerns over Bauxite feedstock supplies. China gets half of it’s supplies from Guinea and is already struggling with output. A worker at a production line of Nannan Aluminum Co Ltd in Nanning, China via China Daily In an already volatile commodity space aluminum hit the highest prices in over ten years as a political coup in Guinea put Bauxite exports under threat, … Continue reading “Aluminum Prices Soar to Ten Year Highs After Guinea Coup Strangles Bauxite Supplies”