Followers | 437 |
Posts | 45331 |
Boards Moderated | 4 |
Alias Born | 05/11/2008 |
Wednesday, July 08, 2009 9:04:40 AM
By Yuriy Humber and Ellen Pinchuk
July 7 (Bloomberg) -- Alcoa Inc. Chief Executive Officer Klaus Kleinfeld said he’s “very optimistic” about sales as the Chinese economy and U.S. automotive industry start to recover.
“China is clearly out of the woods,” Kleinfeld said in a Bloomberg Television interview in Moscow today. “Its economy has come back and is growing again.” China reverted to being a net importer of aluminum this year, buying 700,000 metric tons of the metal in the first six months, he said.
Aluminum has gained 5 percent in London trading this year, lagging behind other industrial metals such as copper and nickel as inventories soared and production exceeded consumption. Demand is strengthening in the U.S. and Europe, Kleinfeld said.
“The engine is starting to get going again, which means you’re going to need a replenishment of end-user demand as well as distributors no longer thinking that they need to have zero on their hands,” James O’Mealia, chief investment officer of Sunnymeath Asset Management, said in a telephone interview.
Alcoa rose 15 cents, or 1.6 percent, to $9.41 at 4:15 p.m. in New York Stock Exchange composite trading. The shares have fallen 16 percent this year.
“Things are bottoming out, and they are even coming back in some sectors,” Kleinfeld said. “I’d mention the automotive sector” as one area of improvement, he said.
To contact the reporters on this story: Yuriy Humber in Moscow at yhumber@bloomberg.net; Ellen Pinchuk in Moscow at epinchuk@bloomberg.net.
Last Updated: July 7, 2009 16:35 EDT
Recent CENX News
- Century Announces Resumption of Normal Shipping Operations at Jamalco Refinery • GlobeNewswire Inc. • 09/17/2024 11:00:00 AM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 09/03/2024 09:02:26 PM
- Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend] • Edgar (US Regulatory) • 08/12/2024 10:00:14 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/08/2024 08:15:36 PM
- Form IRANNOTICE - Notice of disclosure filed pursuant to Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 (Exchange Act Section 13(r)). • Edgar (US Regulatory) • 08/08/2024 08:11:57 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 08:06:48 PM
- Century Aluminum Company Reports Second Quarter 2024 Results • GlobeNewswire Inc. • 08/08/2024 08:05:00 PM
- Century Aluminum Sets Date for Second Quarter 2024 Earnings Announcement • GlobeNewswire Inc. • 07/25/2024 09:05:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/15/2024 09:07:44 PM
- Jamalco Refinery Back to Full Production Following Hurricane Beryl • GlobeNewswire Inc. • 07/12/2024 02:55:33 PM
- Century Applauds Biden Administration for Actions to Address Unfair Trade from Mexico • GlobeNewswire Inc. • 07/10/2024 08:30:45 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 10:50:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 10:47:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 10:45:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 10:43:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 10:42:05 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/28/2024 12:30:29 PM
- Century Aluminum Company Applauds Biden Administration Decision To Triple Chinese Aluminum Tariffs • GlobeNewswire Inc. • 05/14/2024 03:03:04 PM
- Century Aluminum Company Reports First Quarter 2024 Results • GlobeNewswire Inc. • 05/01/2024 12:00:00 PM
- Century Aluminum Sets Date for First Quarter 2024 Earnings Announcement • GlobeNewswire Inc. • 04/18/2024 08:30:00 PM
- MX Holdings and Century Aluminum Announce Their Intent to form a New Joint Venture, Focusing on the Casting of Low Carbon Secondary Billet • GlobeNewswire Inc. • 03/13/2024 11:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 09:45:52 PM
- Jesse Gary, Century’s President and CEO, to participate in BMO 2024 Global Metals, Mining & Critical Minerals Conference • GlobeNewswire Inc. • 02/23/2024 05:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/21/2024 09:07:06 PM
- Century Aluminum Company Reports Fourth Quarter 2023 Results • GlobeNewswire Inc. • 02/21/2024 09:05:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM