Dashboard

Solid News

Alcoa Corp. Market Update

12/8/2022 2:29 PM

Shares of Alcoa Corp., one of the world's largest aluminum producers, are correcting at 46.00.

At the beginning of March 2022, when the US and EU countries imposed the first sanctions on Russian metallurgists, the price of aluminum on the exchange rose to 3.800K dollars per ton, which brought the company a significant benefit, but now the supply situation has normalized, and raw material quotes have fallen to current 2.500K dollars per ton. Against restrictions on Russian manufacturers, Alcoa Corp. is taking decisive steps to eliminate a direct competitor from the market – Novolipetsk Metallurgical Plant (NLMK Group). Thus, the management has already sent three letters to the London Stock Exchange (LME), demanding the termination of trading in Russian metal since its high volumes negatively affect #AA quotes. A week later, the site stated that it did not intend to introduce any bans hindering market pricing and cited strong demand from consumers worldwide.

The issuer's latest quarterly financial report showed a loss per share of –0.33 dollars for the first time since 2020, while revenue fell to 2.85B dollars, down from 3.64B dollars.


On the daily chart of the asset, the trading instrument is moving in a global downtrend.

Technical indicators remain in the state of a weakening local buy signal: the range of EMA fluctuations on the Alligator indicator began to actively narrow, and the histogram of the AO oscillator is forming downward bars, approaching the transition level.

Resistance levels: 50.60, 58.20. | Support levels: 43.40, 33.60.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Mail Us
[email protected]
Call Us
+35 924 928 392


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2023 SolidECN.com