Century Aluminum Co
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Trump Tariffs: Why Alcoa’s Fears Are Coming True
Last year, President Trump slapped a 10% tariff on US aluminum imports. Alcoa didn’t support the tariffs in the first place.
Alcoa’s Outlook Dampened by Aluminum’s Weak Fundamentals
Alcoa (AA) saw negative price action of 2.0% yesterday, and the stock is now down 8.0% for the month.
Why Analysts Expect Alcoa’s Earnings to Fall Sharply in Q1
Alcoa (AA) is scheduled to release its earnings results for the first quarter of 2019 on April 17 after the markets close.
Alcoa’s Outlook Looks Murky amid Conflicting Indicators
Alcoa (AA), the leading US-based aluminum producer, is having a somber year.
Alcoa’s Aluminum Exports Continue to Rise, Concerns Persist
After rising YoY for 14 consecutive months, China’s aluminum exports fell 7.8% YoY in February. The exports also fell 38% sequentially.
US Aluminum Production Woefully Short of Demand despite Tariffs
US aluminum production rose 21.0% last year.
A Year of Trump’s Metal Tariffs: A Look at the Gains and Losses
It’s been almost a year since Trump announced the Section 232 tariffs.
Analyzing Alcoa’s 2019 Outlook
On paper, aluminum’s fundamentals look strong. Aluminum markets were expected to be in a deficit of 1.5 million metric tons last year.
Should You Expect More Gains from Alcoa in 2019?
Alcoa (AA) has seen an upward price action of 13.5% in 2019 based on its closing prices on February 22.
Century Aluminum Posted a Loss despite Trump’s Tariffs
On February 21, Century Aluminum released its fourth-quarter earnings after the markets closed. The company posted an adjusted net loss.
No Respite for Alcoa, China Exported Record Aluminum
While China’s steel exports have been in a downtrend after hitting a record high in 2015, the country’s aluminum exports have continued to rise.
Trump Administration Withdraws Sanctions on Russian Companies
Over the weekend, the Department of the Treasury withdrew sanctions against some Russian companies (RSX) (EEM) including RUSAL.
Alcoa: Strong Q4 Numbers Can’t Hide Its Weakness
Alcoa (AA) released its fourth-quarter earnings on January 16 after the markets closed. The company reported revenues of $3.3 billion.
China Might Want to Thank Trump for Record Aluminum Exports
Chinese steel exports have fallen on a YoY basis for three years, and last year’s exports were roughly 38% lower than 2015 highs.
Alcoa Stock: Analysts Might Be a Little Too Optimistic
Alcoa has received a mean consensus target price of $49.93 from the analysts polled by Thomson Reuters.
Alcoa: 2019 Might Be the Real Test
Alcoa is expected to post revenues of $3.35 billion in the fourth quarter. The company posted revenues of $3.39 billion in the third quarter.
Alcoa: Could There Be a Surprise in Its Q4 Earnings?
Alcoa (AA) is scheduled to release its fourth-quarter earnings on January 16 after the markets close.
Should Alcoa Be on Your Shopping List for 2019?
As we noted previously in this series, Alcoa (AA) and other aluminum producers—including Century Aluminum (CENX)—are having a terrible year as aluminum prices have plunged.
Would Alcoa Have Been Better Off without the Section 232 Tariffs?
hile Century Aluminum (CENX) responded positively to the move and announced a smelter restart a few days after the tariffs, Alcoa’s (AA) response was measured from the very beginning.
Alcoa Falls to Fresh Lows: What’s to Blame?
Yesterday, the United States lifted sanctions on RUSAL, the leading Russian aluminum producer.
Is There a Buying Opportunity in Alcoa?
Alcoa (AA), the leading US-based aluminum producer, fell 9.0% in November. Alcoa has fallen 41% in 2018.
What Really Changed for Alcoa after Trump’s Tariffs?
The US-China trade war and the general slowdown in China’s aluminum demand have taken a toll on aluminum prices.
Alumina Price Volatility Makes Companies Rethink Strategies
Global aluminum markets have seen significant volatility this year. Aluminum prices topped the $2,500 per metric ton level in April.
Supply Uncertainty: Aluminum Takes the Baton from Copper
In 2018, analysts expected disruptions in the copper supply. However, the copper supply has been resilient in 2018.
Alunorte Shutdown: Norsk Hydro’s Pain Is Alcoa’s Gain
Norsk Hydro (NHYDY) has announced a production halt at its Alunorte alumina refinery in Brazil.
Why Analysts Are Still Bullish on Alcoa Stock
Alcoa (AA) carries a mean consensus price target of $58.3, which represents a 42.7% upside over its October 1 closing prices.
What’s Holding Back Alcoa Stock This Year?
Alcoa (AA), the leading US-based aluminum producer, is having a terrible year.
Alcoa Stock: Can the Uptrend Continue?
Alcoa (AA) has seen upward price action in August. The stock has risen 4.3% in August, while it’s still down 16.2% YTD (year-to-date).
US Aluminum Producers Still at China’s Mercy despite Tariffs
Aluminum producers like Alcoa (AA), Century Aluminum (CENX), and Norsk Hydro (NHYDY) see Chinese aluminum overcapacity as a major challenge.
Can Alcoa Recover from Its Recent Slump?
Alcoa released its second-quarter earnings on July 18 after the markets closed. The company lowered its 2018 EBITDA guidance by almost $500 million.
Are Markets Overreacting to Alcoa’s Second-Quarter Earnings?
Alcoa (AA) released its second-quarter earnings on July 18. The company reported revenues of $3.6 billion in the second quarter.
Alcoa or Century Aluminum: Which Stock Do Analysts Prefer?
Century Aluminum (CENX) received “buy” ratings from two analysts polled by Thomson Reuters, and three analysts rated the stock as a “hold” or some equivalent.
How US Aluminum Markets Have Changed after Section 232 Tariffs
In this series, we’ll see how the US aluminum markets have changed since the Trump administration’s implementation of its Section 232 tariffs.
US Steel Stocks in Line of Fire as Trump Takes on China
President Trump has hardened his stance on trade issues, threatening tariffs on billions of dollars of Chinese goods.
Metal Stocks Brace for Tough Times as Trade War Intensifies
Equity markets closed deep in the red yesterday. Looking at the broader-market ETFs, we see that the SPDR S&P 500 ETF (SPY) lost 1.36%, shrinking its year-to-date (or YTD) losses to 2.4%.
Does Century Aluminum’s Risk-Reward Proposition Look Attractive?
Alcoa (AA) and Century Aluminum (CENX) are trading with double-digit year-to-date losses despite the Section 232 tariffs President Trump imposed.
President Trump’s Tariffs: So Far So Good
US steel and aluminum producers are enjoying higher margins on the back of Trump’s tariffs. Some have restarted or opened new plants.
Steel and Aluminum Tariffs Could Test President Trump’s Mettle
President Trump imposed tariffs on US steel and aluminum imports in March.
What Frequent Policy Flip-Flops Mean for US Companies
Policy flip-flops As noted in the previous article, we’ve seen several policy changes this year, especially in the steel and aluminum space. Earlier this year, the United States imposed steep tariffs on steel and aluminum imports. We saw a sharp rally in US steel prices and physical aluminum premiums after the tariffs were imposed. US steel […]
Alcoa: Is It Time to Be Greedy as Markets Get Fearful?
Previously in this series, we looked at recent trends in aluminum prices. In this article, we’ll see how markets are valuing US aluminum producers after last week’s sell-off.
Analyzing Aluminum’s Outlook amid Trade War Fears
As we noted previously in this series, aluminum prices have seen downward pressure this year. Lower aluminum prices are negative for aluminum producers like Rio Tinto (RIO) and Norsk Hydro (NHYDY).
How the Section 232 Tariffs Could Impact US Aluminum Producers
Last week, President Trump temporarily exempted some countries from the Section 232 tariffs. According to the Commerce Department, the United States imported ~6 million metric tons of aluminum in 2016.
Did Alcoa and CENX Overreact to Section 232 Exemptions?
As we noted previously in this serieds, both Alcoa (AA) and Century Aluminum (CENX) have now turned negative for the year.
Is the Sell-Off in US Aluminum Producers Justified?
We saw a sharp sell-off in the equity markets last week. The key driver has been the risk of a trade war.
Did the Tariffs Dent Aluminum Market Sentiments?
The Section 232 findings were released on February 16. Between February 19 and March 16, LME aluminum has fallen ~$200 per metric ton.
US Aluminum Producers after Section 232 Tariffs
President Trump has imposed a tariff of 10% on aluminum imports—based on the Department of Commerce’s Section 232 investigation.
Tariff Plan: Will the Desired Objective Be Achieved?
We could see a spike in US steel and aluminum production this year. Tariffs could reduce imports to some extent.
Alcoa or Century Aluminum: Which Stock Are Analysts Bullish On?
In this article, we’ll take a look at how analysts are rating different aluminum producers.
What Risks Do Alcoa and Other Aluminum Producers Face in 2018?
As President Donald Trump looks inclined to impose tariffs on aluminum imports, we could see an increase in US aluminum production.
Why You Shouldn’t Give Up on Alcoa despite Its Recent Weakness
Despite Alcoa’s recent weakness, its downside could be limited. Let’s discuss this in perspective.
What’s the Core Issue Facing the Global Aluminum Industry?
We should remember that the core issue facing the global steel and aluminum industries is global in nature and not necessarily limited to the US market.
How Would Quotas Affect US Aluminum Buyers?
The quotas, if imposed, could have an impact on US aluminum production, as it would limit aluminum volumes in the US market, despite rising demand.
Why US Aluminum Production Isn’t Rising—Despite Higher Prices
US aluminum production has been in a falling trend for quite some time now, and current production levels are hovering near multiyear lows.
Will Tariffs Make US Aluminum Producers Great Again?
Last week, the US Commerce Department released the results of its Section 232 imports probe.
What’s Ahead for Alcoa after a Tough January?
Alcoa (AA), the leading US-based integrated aluminum producer, has lost 8.9% so far in 2018 based on February 2 closing prices.
China’s Supply-Side Reforms Could Impact Aluminum in 2018
Alcoa (AA) expects global aluminum demand to exceed supply in 2018 on China’s supply-side reforms.
Alcoa Discussed Aluminum’s Demand-Supply Equation
According to Alcoa, global aluminum demand growth was more than 5% YoY in 2017. It expects global aluminum demand to grow 4.25%–5.25% in 2018.
Alcoa Is Optimistic about Aluminum’s 2018 Outlook
Alcoa (AA) reported its 4Q17 earnings on January 17, 2018, after the markets closed. The company posted an adjusted EPS of $1.04 in 4Q17.
How Alcoa Fared in 4Q17
While Alcoa’s 4Q17 earnings rose sharply as compared to previous quarters, the quarterly results fell short of expectations.
Alcoa’s Valuation: Is There Scope for Multiple Expansion in 2018?
In this part of our series, we’ll see how markets are valuing Alcoa (AA). Specifically, we’ll look at the forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple…
Can Alcoa’s 4Q17 Earnings Keep Investors’ Optimism Alive?
Alcoa (AA), the leading US-based aluminum producer (XME), is expected to release its 4Q17 earnings on January 17. In this series, we’ll see what analysts are projecting for Alcoa’s 4Q17 results.
Analysts’ Recommendations on Alcoa before 2018
Three analysts rated Alcoa stock as a “strong buy,” seven analysts rated it as a “buy,” and four analysts rated it as a “hold” or some equivalent.
Chinese Aluminum Demand: Analyzing Drivers in 2018
One of the factors that boosted industrial metal prices in 2017 was better-than-expected demand from China. Its construction sector was strong in 1H17.
Aluminum Supply: What Investors Should Watch in 2018
After its split, Alcoa (AA) became a pure-play aluminum producer (S32) (CENX). Like other aluminum producers, Alcoa’s fortunes are tied to metal prices.
Analyzing Alcoa’s Journey in 2017
Alcoa (AA) made a closing high of $38.54 on February 14, 2017. Alcoa made its fresh 52-week high in October as aluminum moved to higher price levels.
Alcoa’s 2018 Outlook: Will the Stock Continue to Rise?
Alcoa (AA) has had a nice run in 2017. Although the stock has come off its 2017 highs, it’s trading with strong year-to-date gains of 65.6%.
Is the Aluminum Rally Over as Chinese Exports Refuse to Die Down?
Last month, China exported 380,000 metric tons of unwrought aluminum, which is similar to the corresponding month in 2016.
Aluminum Prices Have Come under Pressure after 1H17
Aluminum was among the best-performing base metals in 1H17. It outperformed several other industrial metals including copper.
How Rising Physical Premiums Could Impact Aluminum Producers
US aluminum premiums were weak in July. However, we’ve seen an increase in premiums since then. Premiums in Europe have also risen slightly.
Aluminum Prices Ease from 2017 Highs, Despite Chinese Curtailments
Aluminum was among the best-performing base metals in the first half of 2017. The lightweight metal outperformed copper in 1H17 by a decent margin.
Why Alcoa’s in the Clouds, while China Aims for Blue Skies
Alcoa (AA), the leading US-based aluminum producer, has gained 47.8% in 2017, based on November 30 closing prices.
Norsk Hydro: Analysts’ Ratings amid Higher Aluminum Prices
Norsk Hydro (NHY) released its 3Q17 earnings on October 25. The company reported revenues of 22.8 billion Norwegian krone (~$2.8 billion) in 3Q17.
Analysts Are Bearish on CENX after Its 3Q17 Earnings
Century Aluminum (CENX) released its 3Q17 earnings on October 26. The company reported revenues of $401 million in 3Q17—compared to $389 in 2Q17.
Most Analysts View Alcoa Favorably after Its 3Q17 Earnings
Alcoa (AA) released its 3Q17 earnings on October 18 and reported revenues of $2.96 billion in the quarter. Alcoa posted revenues of $2.85 billion in 2Q17.
Alcoa Continues Its Rally as China Keeps Its Commitment
China exported 370,000 metric tons of unwrought aluminum in September, compared to 410,000 metric tons in August.
Alcoa’s 3Q17 Preview: Why Analysts See Higher Revenues
According to consensus estimates compiled by Thomson Reuters, Alcoa is expected to post revenues of $2.97 billion in 3Q17.
What the Recent Trend in Physical Premiums Means for Alcoa
For aluminum producers, the all-in aluminum price consists of the price of aluminum plus physical aluminum premiums. These premiums are regional in nature.
Chinese Aluminum Demand Indicators Offer Mixed Signals
Since China is the largest aluminum consumer, it’s important for investors to keep track of the country’s aluminum demand (ACH) (FXI).
Alcoa’s PE Ratio: Is There Room for a Multiple Expansion?
Although we don’t have historical valuation multiples for Alcoa because the stock was split late last year, its valuation multiples look reasonable.
China’s Aluminum Exports Data Could Help Alcoa
In the first eight months of 2017, Chinese aluminum exports were 3.26 million metric tons—5.8% higher than the same period the previous year.
Analyzing Alcoa’s Valuation Conundrum
According to estimates compiled by Thomson Reuters, Alcoa is expected to post an adjusted EBITDA of $2.08 billion in 2017 and $2.0 billion in 2018.
Aluminum’s Outlook: What Investors Can Expect
Aluminum prices have been strong in 2017 and have built on last year’s gains. The entire industrial metals space has come a long way since 1Q16.
How Alumina Prices Affect Century Aluminum
Alcoa (AA) is an integrated aluminum producer like Rio Tinto (RIO) and Norsk Hydro (NHYDY) and produces alumina and aluminum (DBB).
Aluminum Prices Defy Gravity and Maintain the $2,000 Level
Aluminum prices have gained more than 22% so far in 2017. This trend was preceded by a 13.6% rise in 2016.
Is China Cutting Aluminum Capacity? Analyzing Producers’ Views
As we noted previously, aluminum prices have been strong this year. Strength has been driven by positive supply and demand dynamics.
How Wall Street Sees Century Aluminum after a 2Q17 Earnings Miss
Century Aluminum (CENX) released its 2Q17 financial results on August 2 after the markets closed. The company reported revenues of $2.86 billion in 2Q17.
China’s Aluminum Exports Fall from Highs—a Relief for Alcoa
Previously in this series, we’ve looked at China’s July steel exports. In this article, we’ll look at the country’s aluminum exports.
2Q17 Earnings Preview: Do Analysts Find Value in Alcoa?
Previously in this series, we’ve looked at Alcoa’s (AA) 2Q17 earnings estimates. In this article, we’ll see how leading brokerages are rating Alcoa stock ahead of its 2Q17 earnings release.
After Steel, Will Aluminum Be on President Trump’s Radar?
Protecting US manufacturing from the onslaught of imports was among the key topics of President Trump’s election campaign.
What’s Driving the Divergence between Alcoa and Aluminum?
As we noted previously, Alcoa is now a pure-play aluminum producer. The company is an integrated aluminum producer with bauxite mining, alumina refining, and aluminum smelting operations.
Alcoa or Arconic: Which Stock Performed Better Since the Split?
Alcoa (AA) and Arconic (ARNC) are now independent corporate entities. Furthermore, the two companies operate in different businesses.
Alcoa Mid-Year 2017 Outlook: Can the Stock Continue Its Good Run?
With the first half of 2017 behind us, investors might be wondering what lies ahead for Alcoa and aluminum prices in 2H17.
What Makes Analysts Bearish on Century Aluminum Stock?
Century Aluminum (CENX) stock has received a “hold” rating from three of the four analysts polled by Thomson Reuters.
How Analysts Are Rating Arconic in 2Q17
Of the eight analysts covering Arconic, three have given the stock a “buy” or equivalent rating, while the remaining five have given it a “hold.”
Why Alumina Prices Are a Challenge for Alcoa
The decline in alumina prices is a concern for Alcoa. The profitability of its alumina operations would be hit due to lower alumina prices.
Alcoa: What the Chinese Aluminum Industry’s Outlook Implies
Developments in the Chinese aluminum industry tend to impact the global aluminum industry. Chinese aluminum exports interest companies like Alcoa (AA).
Alcoa Investors: What to Watch in the Coming Months
Alcoa (AA) is trading well below its 2017 highs. Commodity market sentiments have been dented over the last few months.
AA, CENX, or NHYDY: Which Stock Analysts Are Bullish On
Previously, we’ve seen how analysts are rating different copper producers. In this article, we’ll see which aluminum stock analysts are bullish on.
Chinese Capacity Cuts: Could Aluminum Go Steel’s Way?
Cutting excess industrial capacity is China’s publicly stated policy. The country plans to shut down its polluting industries to address rising pollution as well as frictions with trading partners.
Should Lower Alumina Prices Bother Alcoa and Other Producers?
Although lower alumina prices might not immediately lead to a decline in aluminum prices, they certainly could limit aluminum’s upside.