Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi MM Team, I am interested in your thoughts on Alcoa and your outlook for the Alumina price over the medium term. It looks like Alcoa beat Q2 expectations with its recent quarterly result so maybe it has turned a corner. Regards Mitch
Hi Mitch,
This week Alcoa (AA US) reported results for the second quarter 2024 that demonstrated sequential increases in revenue and earnings on higher alumina and aluminium prices, along with continued progress on profitability improvement programs – in other words, all was good.
Overall, a solid result by Alcoa (AA US) and we like the stock ~$US37 but like most metals at the moment Alumina is in the “naughty corner” and we can see further downside short-term.
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