Alba posts 1H loss on low LME prices

摘要

Aluminium Bahrain (Alba) made a net loss of 10.6mn Bahraini dinars ($28.3mn) in the first half of this year after aluminium prices sank because of Covid-19 in April-June, although its sales grew by 25pc on the year in the quarter. The loss is a sharp reversal from a profit of BD5.7mn in the first quarter. London Metal Exchange (LME) aluminium prices stood above $1,700/t in early March before falling sharply during the initial stages of the lockdown restrictions to a low of around $1,460/t in April. Prices started to recover towards the end of June and ended the second quarter at around $1,620/t.