Debt ceiling must be resolved: Kleinfeld
Jan 09, 2013 | 12:40 PM
| Andrea Hotter
Tags
Alcoa,
Klaus Kleinfeld,
aluminum,
aluminum prices,
debt ceiling,
market sentiment,
Andrea Hotter
NEW YORK — Investors should be more worried about the U.S. debt ceiling than Alcoa Inc.’s free cash flow, chairman and chief executive officer Klaus Kleinfeld told AMM, noting that economic sentiment means everything when it comes to aluminum prices.
"The big issue for 2013 is the debate on the U.S. debt ceiling, which is potentially more damaging than the actual event. The debate has been going on for too long ... it chews everyone’s confidence," he told AMM.
"The U.S. is not really a problem, in general, because the fundamentals are actually pretty good; automotive and aerospace have been growing, and building and construction is turning around. So what could stop that? One big thing, the destruction of confidence, of the infusion of fear," Kleinfeld said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here