Hulamin earnings to fall on lower rolled products, automotive demand
World News: 15:14 GMT Friday 12th July 2019. [Engineering News via SPi World News]
A sharp decline in demand in the US common alloy market following overstocking, as well as a reduction in demand for heat-treated plate, has had a severe impact on the financial performance of Hulamin’s rolled products division in the first half of the current financial year. The JSE-listed aluminium producer, which on Friday announced that it expected to report lower earnings for the interim period to June 30, noted that it had become apparent that the imposition of duties on Chinese common alloy in 2018 had prompted unusually strong buying in the US market which resulted in extensive import overstocking, exacerbated by increased availability from US rolling mills.
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