NYSE · Industrials

ALCOA CORP AA

Alcoa is the leader in the integrated global aluminum industry chain. Its core businesses cover bauxite mining, alumina refining and electrolytic aluminum production, and it is actively expanding into high value-added aluminum products. The company operates across Australia, North America, South America and Europe. Affected by geopolitics, the supply of primary aluminum has tightened and regional premiums have strengthened. Its profits have significantly benefited from the rise in aluminum prices. However, excess alumina market, working capital pressure and progress in asset restructuring constitute medium-term divergence points. Investors can regard it as an indicator of aluminum price elasticity and structural supply shortage, and focus on asset realization and cost optimization results.