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.....

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