Shares of aluminum stocks are trading higher amid a rise in alumina futures on the Shanghai Futures Exchange.
Portfolio Pulse from Benzinga Newsdesk
Aluminum stocks are experiencing a rise in share prices due to an increase in alumina futures on the Shanghai Futures Exchange.
October 11, 2024 | 5:57 pm
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POSITIVE IMPACT
Alcoa Corporation (AA) shares are trading higher as a result of increased alumina futures on the Shanghai Futures Exchange.
Alcoa is a major player in the aluminum industry, and the rise in alumina futures directly impacts its stock price positively. The Shanghai Futures Exchange is a significant market, and changes there can influence global aluminum prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Century Aluminum Company (CENX) shares are trading higher due to the rise in alumina futures on the Shanghai Futures Exchange.
Century Aluminum is affected by the alumina futures market as it is a key input in aluminum production. The increase in futures prices suggests higher demand or reduced supply, benefiting aluminum producers like Century.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80