Yahoo Finance Today’s Research Reports on Stocks to Watch: Alcoa and Century Aluminum
NEW YORK, NY / ACCESSWIRE / April 10, 2018 / Shares of aluminum companies were exploding on Monday after the United States slapped sanctions against a Russian producer of aluminum. Shares of Alcoa and Century Aluminum headed higher yesterday. Alcoa saw its shares gain as much as 8% during intra-day trading and Century saw gains as high as almost 15%.
RDI Initiates Coverage on:
Alcoa Corporation
https://rdinvesting.com/news/?ticker=AA
Century Aluminum Company
https://rdinvesting.com/news/?ticker=CENX
Alcoa Corporation shares closed up 5.35% on Monday with about 6.8 million shares traded yesterday. The steel giant headed higher along with its peers after U.S. sanctions were implemented on Friday against Russia. The country's aluminum giant Rusal was hit particularly hard by the sanctions and lost roughly half of its value as a result. Karen McBeth, the content director of Metals Pricing and Market Engagement at S&P Global Platts, remarked, "If these sanctions remain in effect, the impact on the U.S. aluminum price is very significant and could be lasting." She also said, "Along the value chain for aluminum, each piece of the price is going to rise in the U.S."
Access RDI's Alcoa Corporation Research Report at:
https://rdinvesting.com/news/?ticker=AA
Century Aluminum Company shares closed up a little over 12% yesterday on about 5.1 million shares traded. It was a good day for aluminum stocks such as Century Aluminum and Alcoa with United States sanctions against big Russian metal companies. Sanctions were implemented this past Friday that prevents U.S. entities from doing business with Russian aluminum producer Rusal. Rusal is controlled by Russian oligarch Oleg Deripaska who happens to be a friend of the country's president Vladimir Putin. Shares of Century as well as Alcoa were exploding on the idea that Rusal could be removed from the market. Russia's Prime Minister Dmitry Medvedev has called the measures "unacceptable" and even illegal. The country has threatened potential retaliation. To put in perspective the effect these sanctions have on Russia, Forbes estimated that the stocks and other investments of the country's 50 richest people, lost $12 billion in value in just a day.
Access RDI's Century Aluminum Company Research Report at:
https://rdinvesting.com/news/?ticker=CENX
Our Actionable Research on Alcoa Corporation (NYSE: AA) and Century Aluminum Company (NASDAQ: CENX) can be downloaded free of charge at Research Driven Investing.
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