South32, Alumina plunge as aluminium prices hit eight-week low

Alumina

28/10/2021 24:49

** Shares of diversified explorer South32 Ltd  S32.AX ,
dropped as much as 6.4% to A$3.49, their biggest intraday pct
loss since July 31, 2020
    ** Aluminium prices dropped to its lowest in nearly 8-weeks
on Wednesday as falling thermal coal prices eased supply
concerns  MET/L 
    ** S32, which has significant bauxite and alumina mining
operations hit their lowest in 4-weeks
    ** Shares of Alumina Ltd  AWC.AX  drop as much as 5.2% to
A$2.0, on course for their worst session since Feb. 26
    ** S32 stock up 51.9% this year as of last close
    ** AWC stock up 15% this year as of last close
    
  

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))