Alcoa Shares Decline Over 15% Amid Aluminum Price Correction
Shares of Alcoa (AA) fell more than 15% in early April due to a correction in aluminum prices, driven by expectations that the Strait of Hormuz will reopen following U.S.-Iran negotiations. The reopening is expected to ease supply constraints and reduce premiums on aluminum, negatively impacting companies like Century Aluminum as well.
Topics: Alcoa (AA) aluminum geopolitical impact Strait of Hormuz