Alcoa (AA) (ACH) (RS) (CENX) (KALU) Jump as Aluminum Prices Rise

Aluminum prices for 3-month contracts climbed $55 to $2,556 a ton, pushing up the share price of Aluminum Corp of China (NYSE:ACH), Reliance Steel and Aluminum (NYSE:RS), Alcoa (NYSE:AA), Century Aluminum (NASDAQ:CENX) and Kaiser Aluminum (NASDAQ:KALU) on Wednesday.

That happened even as aluminum inventories were up in LME warehouses, adding 1,325 tons to a new record high of 4.71 million tons.

Several weeks ago the U.S. International Trade Commission voted 6-0 to impose duties on Chinese goods made of aluminum. Specifically targeted were aluminum extrusions, which are used in sills, door frames and window frames, as well as in solar power frames and gutters.

Alcoa (AA) closed Wednesday at $16.69, gaining $0.24, or 1.46 percent. Aluminum Corp of China (ACH) closed at $22.22, up $0.80, or 3.73 percent.