The news hasn’t been good this week for aluminum manufacturer Alcoa Inc.
It’s stock price is tumbling, a Duetsche Bank analyst downgraded the stock to sell and forecasters were
predicting aluminum prices would fall 12 percent or more over the next two years. All this on the heels of Alcoa being booted last month from the Dow Jones Industrial Average.
The future of Alcoa, which recently announced plans for a $275 million expansion of its Blount County Tennessee manufacturing operation, will have a significant impact on that states economy.
The company is investing in a plant upgrade in a move to take advantage of rising demand for aluminum by auto makers. Alcoa which operates an aluminum finishing plant in Hutchinson,will kickoff earnings season with the release of its quarterly financial report on Tuesday.