Reuters reported that earnings at Norway based aluminium producer Hydro plunged more than expected in the Q1 and the company said that global demand would grow at the low end of previous expectations.

Q1 underlying earnings before interest and taxes fell more than 60% on the year to NOK 557 million while the mean forecast in a Reuters poll had been for NOK 578 million.

The company said that global demand for aluminium outside China would grow about 3% in 2012 while three months ago it had projected 3% to 5% growth.

Source - Reuters

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