NEW YORK, NY -- (Marketwire) -- 12/13/11 -- Aluminum stocks have been hammered in recent months as a weak outlook for the global economy has weighed on prices. Last month Forbes reported that aluminum prices have fallen below the cost of output for many producers, "creating a scenario in which global production may suffer in the months ahead if prices do not recover." The Paragon Report examines investing opportunities in the Aluminum industry and provides equity research on Alcoa, Inc. (NYSE: AA) and Century Aluminum Co. (NASDAQ: CENX). Access to the full company reports can be found at:
Shares of Alcoa have been on a significant downturn in recent months. Last week Goldman Sachs downgraded the company, citing weaker aluminum prices and higher input costs for the move. Alcoa was optimistic in the long term when it reported fiscal third quarter earnings in October, with gains in China, and to a lesser degree, India, offsetting declines in Europe.
A recent article from Steel Guru reports that global demand for primary aluminum is set to reach 75 million tons by 2020 with China, India and Brazil becoming the growth centers for aluminum based products.
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Last week Alcoa announced that it was awarded the Industrial Peace Prize for fostering harmonious union and company relationships in the Kyung Sam Namdo Province in South Korea. The Industrial Peace Prize is given to an employer that has achieved productivity improvements through a cooperative labor relationship and positive company culture.
Century Aluminum Company, through its subsidiaries, produces primary aluminum in the United States, Iceland, and internationally. The company offers molten aluminum, as well as standard-grade ingot, extrusion billet, and other value-added primary aluminum products. For the first nine months of 2011, the company reported net income of $42.4 million ($0.42 per basic and diluted share). Shipments of primary aluminum for the first nine months of 2011 were 446,493 tons compared with 436,472 tons for the comparable 2010 period.
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