Century Aluminum hit by Norsk Hydro plant closureBusiness | 4 Oct 2018 11:26 am
Century Aluminum tumbled on Wednesday in US trade after Norsk Hydro said it is shutting down its Alunorte plant in Brazil. Alunorte is the world’s largest alumina refinery, and that could leave Century Aluminum without enough of a critical material used in making aluminum.
Century Aluminum fell by 11.6 percent to US$10.52, and shares of Norsk Hydro lost 11.8 percent in Norway.
Rival aluminum company Alcoa, which produces its own alumina, gained by 3.2 percent to US$42.89.