"The metal price is down, but costs are up a lot," he said on CNBC's "Squawk Box." "... What's been happening in the last few weeks has nothing to do with the stocks and commodities ... it's the dollar's being strong (and) some funds liquidating."
In addition, there's been broad disruption in commodity markets as a whole. (See Bradford's full comments in the video)
Alcoa, a Dow component, is typically the kick-off report for the earnings season. Yesterday, however, Bank of America reported its earnings early.
New from CNBC.com: