Refile: BUZZ-Alumina hits 4-mth low on production cut; MS flags profit hit

Alumina

16/03/2023 04:39

(Adds dropped word "on" in headline)
    ** Shares of Alumina Ltd  AWC.AX  fall as much as 4.5% to
A$1.375, their lowest since Nov 1
    ** The aluminium producer said output at its Portland
smelter in Victoria would be immediately reduced to about 75% of
its total capacity of 358,000 metric tonnes per year
    ** Morgan Stanley estimate the production cut to have $17
mln impact on AWC's 2023 net profit after tax
    ** MS keeps 'overweight' rating; A$1.75 PT
    ** Stock down 5.3% this year, as of last close

 (Reporting by Poonam Behura and Rishav Chatterjee in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))