Alcoa bullish on downstream: Kleinfeld

May 06, 2013 | 12:54 PM | Michael Cowden

Tags  Alcoa, Klaus Kleinfeld, outlook, downstream, value-added, aerospace, automotive, LME London Metal Exchange

CHICAGO — Alcoa Inc. is cutting costs to cope with steep aluminum price declines even as the company predicts that downstream demand will surge in coming decades.

Aluminum demand has grown by about 8 percent per year in recent years and is expected double over the next century, implying growth of roughly 6.5 percent per year, Alcoa Inc. chairman and chief executive officer Klaus Kleinfeld said at a recent shareholders’ meeting.

"The aluminum market is not a bad market," at least not when it comes to the "physical side" and end markets, according to Kleinfeld. "There is a different story on the pricing side," he conceded.....

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