Alcoa CFO: Tariff Relief Won't Crash US Aluminum Premium, Order Book Sold Out
AA sits 59% above its 52-week low of $30.71 on light trading volume (0.3× avg).
Summary
Alcoa's CFO Molly Beerman told the Jefferies conference that even halving Canadian tariffs won't significantly lower the Midwest premium because the US still needs 1M tons from other countries. She quantified the supply gap: US imports 4M tons annually, Canada supplies 3M. Alcoa pays over $1B in tariffs on its Canadian aluminum but says the premium fully compensates. Crucially, Beerman said Alcoa's order book is almost completely sold out for the rest of 2026, with customers actively seeking supply due to Middle East constraints. This follows the $4.1B South32 acquisition and record Q2 results, reinforcing strong demand and pricing power.
At the time of this announcement, AA was trading at $48.91 on NYSE in the Manufacturing sector, with a market capitalization of approximately $12.9B. The 52-week trading range was $30.71 to $84.38. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.