Bauxite, alumina, and aluminum producer Alcoa (ASX:AAI) is a bottom-performing stock on the S&P/ASX 200 index today, which dropped for the second day in a row by 0.33% to 8,470.10 points.
Alcoa share prices decreased by 8.7% to $81.69 within the first hour of the Australian Securities Exchange opening for trade.
Copper, zinc, lead, and silver multinational Newmont (ASX:NEM) declined by 5% to $138.95 per share. Fellow copper, zinc, lead, silver, and aluminium producer South32 (ASX:S32) was also down by 3.6% to $3.90 a share.
The index fell sharply on 19 March by 1.62% to 8,501 points, ending two days of gains. The index earlier rose on 18 March by 0.08% to 8,621 points and the day prior by 0.19% to 8,599.80 points.
“Over the last five days the index has lost 1.71% and 2.8% year to date,” the ASX markets website says.
As Mining.com.au previously reported, the index reported a third year of “positive returns” during 2025 despite “some concerns about the state of the world”.
“Big option trades using longer dated contracts we found in January appear to be looking for continuation of this upward trend in 2026,” the ASX says.
Analysts predict the share market index is unlikely to significantly increase until the US-Israel-Iran conflict ends. IG Market Analyst Tony Sycamore sees “stormy” sharemarket trading conditions ahead.
“I really do not feel like the ASX200 has got a lot of potential to get back up much higher than 8760 to 8770 … until we get some sort of resolution about what is going to play out in the Middle East,” Sycamore tells the Australian Associated Press.
“It feels like a bit of a parting of the storm clouds but I just do not know how far away the return of those storm clouds is at this point in time,” he adds according to the newswire agency.
Write to Richard Szabo at Mining.com.au
Images: Marcus Reubenstein via Unsplash
