The trade war between the US and China that’s clouded the global growth outlook will have a lasting negative effect on aluminum demand, Norsk Hydro CEO Hilde Merete Aasheim said.
On Tuesday, the Oslo-based company pared its demand growth forecast for a second time this year, echoing the dimming outlook painted by top US producer Alcoa last week. Russian giant United Co. Rusal chimed in with similar comments in a trading update on Friday that warned on aluminum demand for the second half.