Aluminum Stocks Surge, Market Cap Increases by 2.8 Trillion Won in One Day

On March 30, shares of Alcoa Corporation (NYSE: AA) jumped 10.93% to close at $64.80 on the New York Stock Exchange. That single‐day gain added roughly $2.1 billion in market value—about ₩2.8 trillion—bringing Alcoa’s total market capitalization to approximately $17.1 billion (around ₩23 trillion). Trading volume reached about 7.5 million shares.

Meanwhile, collective‐bargaining talks between Alcoa and its union at the Massena, New York, plant have stalled over economic issues such as wages, prolonging uncertainty around the negotiations.

In mid-March, at J.P. Morgan’s industrial conference and during its investor presentation, Alcoa reaffirmed its commitment to decarbonization and to reshaping its asset portfolio, even amid an aluminum-oversupply environment.

Headquartered in the United States, Alcoa is a fully integrated global aluminum producer—covering bauxite mining, alumina refining and aluminum smelting—and is widely regarded as a cyclical stock. Since September 2023, CEO Bill Oplinger has been driving a program of restructuring and transitioning the company toward more environmentally friendly production.