Low aluminum stocks drive Alcoa to further investments
Dec 04, 2006 | 08:37 AM
| Matthew Lerner
Historically low aluminum inventory levels will push Alcoa Inc. to continue investing in both its upstream and downstream activities, according to Alain J.P. Belda, Alcoa's chairman and chief executive officer.
Visible world stocks total just 28 days of supply, he said, as compared with 45 days at the end of 2004. "We believe this to be critically low level," Belda said Monday at the Desjardins Securities Materials Conference in Montreal. London Metal Exchange stocks stood at seven days, while producer stocks were at 20 days.
"We have record-low inventories," Belda said. "This is clearly an indication of the strength of demand."....
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