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China, trade wars dent Alcoa’s demand hopes

Alcoa Corp. expects lower demand growth worldwide for aluminium even amid dwindling inventories of the metal, thanks to a double whammy of trade tensions and macroeconomic headwinds, it said late Wednesday.

Shares of Alcoa AA, -0.73% fell in the extended session after the aluminium and alumina producer posted a narrower-than-expected second quarter loss but raised the concerns about demand — and the implications for the global economy.

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Alcoa said it estimates global aluminum demand growth for 2019 between 1.25% and 2.25% this year, down from a previous estimate of growth between 2% and 3%.

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