|Bid||38.98 x 1200|
|Ask||39.00 x 800|
|Day's Range||37.02 - 39.02|
|52 Week Range||10.98 - 44.42|
|Beta (5Y Monthly)||2.70|
|PE Ratio (TTM)||16.90|
|Earnings Date||Oct. 12, 2021 - Oct. 18, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||42.55|
Global aluminium production growth ground to a halt in the second quarter of this year even as prices rallied to multi-year highs on both London and Shanghai markets. China, the world's largest producer, continued to lift operating rates, unsurprisingly given Shanghai prices hit an 11-year high in June and the country's demand has been running red hot. However, the supply response to super-high prices has been muted by past standards, attesting to a string of power-related constraints on smelters in several Chinese provinces.
During earnings season, one often gets to see glaring examples of how irrational the stock markets can be. Alcoa reported its second-quarter numbers on July 15 after market close. It was the company's strongest quarter since 2016, when it became an independent upstream aluminum company after the-then Alcoa split into two.
The aluminum stock's second-quarter earnings failed to impress, but the market could have missed the good points.