Quarterly loss posted by aluminium company
Updated at 12:18 pm on 10 July 2012
Alcoa has posted a second-quarter loss of $US2 million after aluminium prices slumped to their lowest for nearly two years.
The loss compared with a profit of $US322 million profit in the same period a year ago.
Revenue fell 9% to $US6 billion as aluminium prices fell 18 percent from last year.
But the results were still better than analysts had expected and shares in the company rose2% in after-hours trading.
Alcoa reaffirmed its forecast that global aluminium demand would grow 7% in 2012, on top of the 10% growth seen 2011.
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