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Commodities Buzz: ALCOA Strong Results Boost Sentiments for Aluminium

Capital Market/ 12:56 , Jul 09, 2014

The strong set of numbers of Aluminium giant ALCOA has given a ray of hope for the distressed commodity Aluminium. The metal is set to roll forward after the second quarter results of ALCOA. The revenue for the company was $ 5.84 in Q2 that was ahead of the expectations.

The expectations were that the company will show a decline of 3% in the sales. The Q2 revenues during the similar period of 2014 were $ 5.836 billion. ALCOA also reported a best ever margin of EBITDA in Q2 that was 23.1%.

The company remains focused on declining the costs and simultaneously improving the performance of the commodities. The company has given its guidance for the third quarter. According to the guidance, the Q3 will see strong demand from Aerospace industry.

The company has mentioned that the US defence spare parts demand will be impacted in the quarter. The guidance mentions that there will be slowdown in the European markets due to summers. Aluminium was the only metal in day trades that was in green when last checked. The prices of MCX Aluminium were trading at Rs 115.35 per kg, up 0.04%. The prices have so far tested a high of Rs 115.45 per kg, and a low of Rs 114.9 per kg.

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