Why Aluminum Giant Alcoa's Stock Jumped 11.5% in July
The shares of Alcoa Corp. (NYSE: AA), one of the largest aluminum producers in the world, rose 11.5% last month. The bulk of that gain came after July 11, when it announced it was partially restarting a facility it had shuttered. That news was followed by a solid second-quarter earnings release on July 19. In sum, there appear to be a number of positives on the horizon.
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In and of itself, word of the partial restart of the smelter at the Warrick rolling plant wasn't all that exciting. That facility was closed in early 2016, and just three of the five smelters at the plant will be restarted. What was really interesting was the logic behind the move -- Alcoa says it's doing it to better position itself to meet the future demand it is anticipating.
Source: Fool.com
