CENX - Alcoa extends sizzling run higher as aluminum streaks to another record

Alcoa (NYSE:AA) +3.1% pre-market, looking to continue its scorching gains with aluminum prices surging to yet another record peak, as the war in Ukraine intensifies the threat of commodity supply disruptions from Russia. According to Reuters, three-month aluminum (LMAHDS03:COM) on the London Metal Exchange touched a record of $3,552/metric ton before easing back a bit to $3,532/ton, +1.6%. Other potentially relevant tickers include CENX, ARNC, CSTM, KALU, ACH, JJU Aluminum prices have jumped 37% since mid-December, initially due to weaker output due to power issues, and has hit successive record highs after Russia's invasion of Ukraine. Shares of Rusal (OTC:UNRIF), Russia's biggest aluminum producer, plunged as much as 29% Wednesday in Hong Kong, and faces additional pressure after Glencore said it was reviewing its shareholdings in Rusal's controlling shareholder, En+ Group. Alcoa CEO Roy Harvey said Tuesday that the company has no plans to add capacity by building or restarting

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Alcoa extends sizzling run higher as aluminum streaks to another record