Alcoa Trending Up 5%

Shares of aluminum company Alcoa Corp. (AA) are up 7 percent on Wednesday's trading. The shares have recovered after declining on the news that it decided to restart the Brazil Aluminum plant.

The company recently announced its plans to restart around 268,000 metric tons per year of aluminum capacity at the Alumar smelter in São Luís, Brazil. the plant has not been operating since 2015.

Alcoa said that the idle capacity will be restarted immediately and the first molten metal is expected in the second quarter of 202 and the capacity will be fully utilized by the end of 2022.

Currently at $49.10, the stock has traded between $10.98 and $51.89 during the past 52 weeks.

For comments and feedback contact: editorial@rttnews.com

Business News

Get Access to Premium Stock Alerts with RTT Intelligent Investor.
Follow RTT