Aluminum makers advance after privately held peer acquired

Shares of aluminum producers are advancing after privately held Aleris, a global aluminum rolled products producer, announced it was being acquired by Zhongwang for $2.33B. Aleris will retain its name and continue to serve its customers with no changes to current operations, contracts or commitments. It will continue with the implementation of all strategic growth projects, including its major expansion project in Lewisport, Kentucky, which will enable Aleris to meet the North American automotive industry's growing demand for aluminum auto body sheet. The transaction is expected to close in the first quarter of 2017 following the customary regulatory approvals and closing conditions. OTHER ALUMINUM MAKERS ADVANCE: Shares of other publicly traded aluminum companies are moving up, including Alcoa (AA) rising 2.4%, Century Aluminum (CENX) jumping 2.7%, Kaiser Aluminum (KALU) increasing almost 1%, and Constellium (CSTM) rocketing almost 13% in afternoon trading.