Alcoa Inc shares prices prediction 2011

Alcoa Inc shares prices prediction 2011 : Aluminum prices have advanced in the past year in London as usage soared in China, the biggest consumer, and demand from the U.S automotive and aerospace industries improved. Alcoa Chief Executive Officer Klaus Kleinfeld reiterated his forecast for global demand to increase by 12 percent in 2011 and double by the end of the decade as Asian countries build more office blocks and buy more aircraft, cars and trains.

After the closing bell Monday, aluminum giant Alcoa Inc. (AA) reported a second-quarter profit of $322 million, or 28 cents a share, up from $136 million, or 13 cents a share, in the year-earlier period. The firm said the "economic recovery is uneven," but the overall outlook for Alcoa and for aluminum remains positive.

Alcoa, traditionally the first company in the Dow Jones Industrial Average to report earnings, traded at 11.255 euros in Frankfurt as of 9:20 a.m. local time. That’s equivalent to $15.58, 2.1 percent below yesterday’s closing price on the New York Stock Exchange. Alcoa’s U.S. shares advanced 45 percent in the past 12 months, the third-best performer in the Dow Jones.

Alcoa’s primary-aluminum production will increase by 30,000 metric tons in the third quarter, the company said in a presentation posted on its website. The primary-aluminum unit will also see energy costs rise by $33 million in the quarter.

The market should be pleased that Alcoa is still showing these strong year-on-year trends.

tag ; alcoa inc shares prices, alcoa inc stock exchange, alcoa inc financial times, alcoa inc shares prices prediction 2011 aa, alcoa inc shares to buy prediction 2011, alcoa inc shares prices prediction 2012, alcoa stocks, alcoa stock price, alcoa stock quote, alcoa stock price today, alcoa aluminum stock.