Replies to post #36330 on Mohacsy's Safe Portfolio Member Forum

[Stock]

Alcoa Forecasts Global Aluminum Demand Up 9.6% In '08 >AA

Last update: 1/9/2008 5:00:04 PM

By Bob Sechler
Of DOW JONES NEWSWIRES

Alcoa Inc. (AA) is forecasting 9.6% growth in worldwide primary aluminum consumption this year, a slight dip from last year's projected 10% increase in consumption.

Still, consumption in North America should climb about 0.8% in 2008, according to the company, after sliding 9.5% in 2007.

The projections were including in a slide presentation ahead of Alcoa's conference call with analysts later Wednesday to discuss its fourth-quarter results.

The aluminum giant is forecasting a 24% increase in China's aluminum consumption this year, compared to an estimated 37.2% increase last year.

Shares of Alcoa rose 4.2% to $32.55 in late trading.

-By Bob Sechler, Dow Jones Newswires; 512-236-9637 (END) Dow Jones Newswires
January 09, 2008 17:00 ET (22:00 GMT)

[shtsqsh]

looks to me that those who gambled on earnings are holding AA at around 31.
that looks like a good line of support since the price of aluminum should rise in the face of another guaranteed 50bp Fed rate cut.