Shares of miners and other commodities processors were flat as the dollar recouped some of its recent losses. The dollar is down more than 3% for the year to date, as traders reverse bets on an economic boost from infrastructure spending and tax-reform bills. That has supported the prices of industrial commodities. A 10-year slump in profits coming from the aluminum industry may be close to an end, said analysts at brokerage Morgan Stanley. Chinese pollution controls could bode well for global producers such as Alcoa and Norsk Hydro by driving up the cost of aluminum making in the industrial nation. "Structural change in capital employed supports higher earnings power in aluminium," said the Morgan Stanley analysts, in a note to clients.
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(END) Dow Jones Newswires
April 21, 2017 16:34 ET (20:34 GMT)