Alcoa Pares Aluminum Forecast as Trade-War Fallout Widens
- Supply now seen trailing use by as little as 1 million tons
- China stimulus will help boost demand for aluminum: CEO
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Alcoa Corp. cited weakness in China in cutting its forecast for global aluminum demand for the second time in three months, adding to concerns that trade frictions are eroding the outlook for the industrial metal.
The company sees aluminum use this year growing 1.25% to 2.25%, compared with its previous estimate of 2% to 3%, as trade tensions and macroeconomic headwinds slower demand in China and the rest of the world, Alcoa said Wednesday when it reported second-quarter earnings.