Australian aluminium company Alumina Ltd
(ASX:AWC) has released a statement following the announcement of Alcoa’s 4th quarter results in the US.
Alcoa reported a loss of US$277 million in the fourth quarter due in part to US$275 million a big improvement on the US$1.19 billion it lost in the 4th quarter of last year.
Alumina CEO John Bevan says alumina refineries achieved record third party shipments for the quarter based on strong customer demand, particularly in China.
The company, who will report its 2009 earnings on February 9, says the financial result has been impacted by a weaker US dollar but improvements in aluminium prices have been sustained with realised US dollar third party prices up 15 cents on the prior quarter.
Alumina says it is well positioned to benefit from the anticipated return to demand growth in 2010. Alumina posted a $168 million profit for the 2008 calendar year.
