Alcom active, rallies 6.71% amid supply concerns

TheEdge Fri, Oct 05, 2018 09:29am - 5 years View Original


KUALA LUMPUR (Oct 5): Shares in Alcom Group Bhd gained 6.71% in active trade this morning amid supply worries as the closure of the world's largest alumina refinery run by Norsk Hydro in Brazil pushed aluminium prices up to their highest in about three months.

At 9.10am, Alcom rose 5.5 sen to 87.5 sen with 2.28 million shares traded.

It was reported that three-month aluminium on the London Metal Exchange was up 1% at US$2,228 a tonne by 0215 GMT yesterday, after earlier hitting US$2,246, the highest since June 15. The metal surged 4.2% overnight, its largest single-day gain since April.

 

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