Column: China’s export tax bombshell rocks aluminum market
China's announcement on Friday may have major long-term ramifications for the global aluminum supply chain, writes Andy Home.
U.S. aluminum producer Alcoa Inc (AA.N: Quote) said on Friday it won a multiyear contract worth about $1 billion to supply its new, lighter aluminum-based alloys for Airbus commercial aircraft.
The news sent Alcoa stock up almost 1.8 percent to $15.55 in early trading on the New York Stock Exchange on a day when the broader market fell. Later in the morning, the shares were up 8 cents to $15.36.
Image of an Airbus aircraft, operated by DHL, by Wikimedia Commons
