Low aluminum stocks have Alcoa upbeat

Dec 04, 2006 | 02:48 PM | Matthew Lerner

Historically low aluminum inventory levels will drive Alcoa Inc. investments in both its upstream and downstream activities, Alain J.P. Belda, Alcoa's chairman and chief executive officer, said Monday.

Visible world stocks total just 28 days' supply compared with 45 days at the end of 2004, he said. "We believe this to be a critically low level," Belda said at Desjardins Securities' Materials Conference in Montreal. London Metal Exchange stocks stood at seven days' supply, while producer stocks totaled 20 days' supply.

"We have record low inventories," Belda said. "This is clearly an indication of the strength of demand."....

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