Aluminum price rise should help Alcoa in qtr.
Jan 07, 2013 | 05:41 PM
| Suzy Waite
Tags
Alcoa,
earnings results,
Davenport,
Tim Hayes,
Barclays Capital,
Dahlman Rose,
Jefferies,
Credit Agricole
Standard & Poors
NEW YORK — Analysts anticipate Alcoa Inc. will kick off the earnings season with improved results over the prior quarter, largely due to a 4-percent uptick in the price of aluminum on the London Metal Exchange.
"Aluminum prices were higher sequentially. LME cash averaged $2,001 per tonne in the fourth quarter vs. $1,920 per tonne in the third (quarter). That will be enough to offset some very small headwinds from seasonal weakness in the downstream business and currencies," Tim Hayes, analyst at Richmond, Va.-based Davenport & Co. LLC, told AMM.....
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