Alcoa positive about 2013


US’S biggest aluminium producer, Alcoa, kicked off the country’s fourth-quarter results season yesterday, beating expectations on revenue and forecasting an improved 2013.

The company, seen as a bellwether for the country’s economy, swung to a profit of $242m (£151m) after a loss in the previous quarter, and said it sees global aluminium consumption to rise seven per cent this year, an upgrade on the previous quarter’s expectations of six per cent.