US Stock Market Move | Aluminum prices fall, Alcoa Corporation (AA.US) drops more than 4.6%
Aluminum plate prices are falling, as of the time of writing, the American aluminum industry has dropped more than 4.6%.
On Friday, the aluminum sector experienced a downturn. As of the end of the trading day, Century Aluminum Company (CENX.US) fell by 4.7%, Alcoa Corporation (AA.US) dropped over 4.6%, and Kaiser Aluminum Corporation (KALU.US) decreased by nearly 2%.
On the news front, Citigroup stated that the uncertainty surrounding the U.S. presidential election in November will inhibit global risk appetite and may delay China's stimulus plan, thus hindering a significant increase in metal prices.
In recent months, concerns about slowing demand, coupled with uncertainty about the global economy, have led to a decline in prices of metals such as copper and aluminum. Earlier this week, Goldman Sachs Group, Inc. lowered its 2025 copper price forecast by $5000, adding to the increasingly cautious tone in the commodity markets.
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