Alcoa's optimistic about aluminum demand in 2021
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Update time : 2021-04-19 17:14:35
Alcoa reported that its profit reached US$175 million in the first quarter of this year, rising by more than doubled from the same period a year ago. The earnings per share were 93 cents, higher than the 43 cents in the same period last year.
The adjusted earnings per share were 79 cents, higher than the market’s estimated 45 cents and a loss of 23 cents per share in the first quarter last year.
Besides, the sales had a year-on-year hike of 20.6% to US$2.87 billion during the period, mainly due to higher aluminum and alumina prices.
Both Alcoa’s first-quarter profit and sales hit a two-year high and were better than market expectations. Alcoa was optimistic about the economic recovery and aluminum demand.
