ARNC - Aluminum tumbles to four-month lows on demand concerns weigh

Aluminum prices in London fell to four-month lows on Friday, as concerns about demand created by slowdowns in manufacturing activity in China and elsewhere were reinforced by the strong dollar, Reuters reports. London Metal Exchange benchmark aluminum (LMAHDS03:COM) could be headed for its sixth straight weekly loss, and recently traded -0.7% at $2,895/metric ton after earlier touching $2,888/ton, a 30% decline since early March and the lowest price since January 6. Alcoa (NYSE:AA) shares have dropped more than 10% during the past week; other potentially relevant tickers include (CENX), (ARNC), (KALU), (ACH), (JJU) "Concern about growth and demand headwinds from China's ongoing COVID lockdowns is a primary driver of the selling pressure in base metals," AMT analyst Tom Mulqueen told Reuters. China's factory activity in April declined at the sharpest pace in 26 months, while manufacturing activity in the U.S. and the euro zone also has slowed. Among other metals,

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Aluminum tumbles to four-month lows on demand concerns weigh