Alcoa posted fourth quarter losses of $ 191 million, or 18 cents per share, compared to $ 258 million, or 24 cents, a year earlier, the company is based in New York said today in a statement. Sales increased 6 percent to $ 5.99 billion of 5.65 billion.
Aluminium fell by 2011, with the benchmark three-month prices in the London average 11 percent lower in the fourth quarter from the previous year. Alcoa said last week it would shut down 12 per cent of the capacity of the smelter in the middle of a price fall.
The company will cut its global smelting capacity by 531,000 tons. U.S. smelter in Alcoa, Tennessee, and Rockdale, Texas, will be affected, said January 5. Alcoa said today it will reduce production in the smelters at Portovesme, Italy, and Deportivo Aviles in Spain as part of the plan.