Metal Stocks Slumped (Alcoa Inc., CENX, NOR, FCX)

Wednesday, Nov 17, 2010
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Metal stock slumped on Tuesday led by Copper, which fell to the lowest price in almost two weeks on concern that demand will wane in China, the world’s biggest metals user. Rising Dollar is also putting pressure on commodities.  Aluminum, lead, zinc, nickel and tin also dropped in London.


Alcoa Inc. (NYSE:AA) fell 3.43% to $12.96 on volume of 19.38 million shares. So far this year, the stock is down 19%. It has a 52-week range of $9.81-$17.60. Alcoa Inc. (Alcoa) is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined.


Century Aluminum Company (NASDAQ:CENX) slumped 5.70% to $13.39 on volume of 1.43 million shares. So far this year, the stock is down 17%. It has a 52-week range of $8.25-$18.77. Century Aluminum Company (Century) is engaged in producing aluminum. The primary aluminum capacity includes the facility in Grundartangi, Iceland with capacity of 260,000 metric tons per year (mtpy), the facility in Hawesville, Kentucky (Hawesville).


Noranda Aluminum Holding Corporation (NYSE:NOR) plunged 14.55% to $11.10 after the company it appointed Peter J. Hartland as President of Noranda’s Upstream Business effective December 6, 2010.


Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) also slumped 5.25% to $96.65 on volume of 14.31 million shares. So far this year, the stock is up 20%. It has a 52-week range of $56.71-$108.51.

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