Alumina stock slumps 6pc on inflation and low demand
Elouise FowlerReporter
Alumina Ltd’s stock slumped 6.7 per cent on Thursday, following a downbeat result from US company Alcoa, which shares a portfolio of refineries with the Melbourne-based refiner.
Alumina managing director Mike Ferraro said inflationary pressures that pushed the company’s unit costs up combined with subdued alumina prices constrained Alcoa’s margins and cash flow in the fourth quarter of 2022.
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