Stock Track | Alcoa Corp Soars 10.24% Intraday as Aluminium Prices Jump After Iranian Attacks
Stock Track
Mar 30
Alcoa Corp's stock soared 10.24% intraday on Monday, reflecting a significant upward movement in its share price.
The surge is attributed to a sharp rise in aluminium prices on the London Metal Exchange, which jumped 6% at open following Iranian attacks on the Middle East's two largest producers of the metal over the weekend. This geopolitical event has boosted shares of aluminium producers, including Alcoa Corp.
Other Australian miners in the sector also saw gains, with the broader mining index rising as much as 1% to its highest level since March 19.
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