Alcoa Sees 7% Gain in Aluminum Use on Autos, Aerospace
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Alcoa Inc., the largest U.S. aluminum producer, sees world demand growing 7 percent this year as automakers use more of the lightweight metal and orders from the aerospace industry accelerate.
Demand for commercial and regional jets will help boost global aerospace sales as much as 10 percent, the New York-based company said yesterday as it reported fourth-quarter earnings and revenue that beat analysts’ estimates. It also predicted U.S. auto sales will rise 5.8 percent in 2015. Alcoa shares rose.