Alcoa Posts Highest Close Since 2008 as Aluminum Prices Surge
- Metal rises to highest since 2012 on report of smelter cuts
- Global aluminum output fell in August to 16-month low: IAI
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Aluminum is on a roll and it’s taking its makers with it.
Alcoa Corp., the largest U.S. producer of the metal, had the highest close since the global financial crisis hit in 2008 as aluminum extended its rally to a five-year high. The metal advanced for a third day after a report of possible production cuts in China, compounding supply concerns.