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Why Bears Love Alcoa Stock

Mark O'Hara
Updated
Why Bears Love Alcoa Stock

In this part, we’ll discuss some of Alcoa’s (AA) bearish drivers. First, the US-China trade war scare has weaned investors away from metals (XME). China’s economic data have likely added to the pessimism. China’s car sales fell YoY (year-over-year) in July and August. The fixed-asset investment growth rates have also fallen to historical lows. The property boom that lifted China’s metal demand is fading. Amid a domestic demand slowdown, Chinese aluminum exports have risen sharply in 2018. Aluminum exports rose 17.1% YoY in the first nine months of 2018. ...

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