Tag: Alcoa South32 acquisition
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Daily round-up: LME base metals trade lower; Strait of Hormuz tensions raise supply concerns
Alcoa reports higher aluminium output q-o-q, acquires South32’s aluminium assets Norsk Hydro warns global aluminium supply deficit may widen amid Middle East tensions LME base metals traded mostly lower on 28 July as investors remained cautious amid renewed geopolitical tensions and macroeconomic uncertainty. Nickel recorded the steepest decline, falling 1.41% day-on-day (d-o-d) to $16,970/t. Zinc…