Alcoa Corp jumps over +7%, the latest victim – or is it beneficiary? – of the Iran War

Group 1 - Alcoa Corporation's stock price increased over +7% to $92.30 per share following Iranian strikes on aluminium plants in neighboring countries hosting U.S. bases, making it a victim-beneficiary of the Iran War [1] - Investors are driving up Alcoa's stock as aluminium futures rise, with intraday gains for Alcoa around +6%, correlating with a +6% increase in aluminium prices on metals markets [2] - The attacks resulted in "significant" damage to facilities in the UAE and Bahrain, which are part of the Middle East's ~9% contribution to global aluminium supply [3] Group 2 - Aluminium futures on the London Metal Exchange (LME) have increased by +2.5% over the last month, with expectations for further increases due to supply concerns stemming from the attacks and Guinea's plans to limit bauxite exports [4] - Alcoa's Western Australia refineries can supply up to 8% of the global aluminium market, although expansion of exploration and mining works has been halted due to environmental concerns [5] - Alcoa recently entered an 8-year supply agreement with Emirates Global Aluminium, one of the companies affected by the Iranian attacks [6]