Aluminium is not oversupplied–Alcoa's Kleinfeld
November 7, 2012
By:  Andrea Hotter

Aluminium is not the oversupplied industry that many mistakenly believe, but instead represents significant growth opportunities, the ceo of USA-based aluminium producer Alcoa said on Wednesday November 7.

Klaus Kleinfeld told an investor briefing in New York that it was "time to go from the myths and face the realities" of the sector.

"The fact is, that supply-demand is in balance," he said.

"Inventory is in decline and those that exist are not available."

Kleinfeld was referring to the record high level of LME inventories, which some say are holding back prices, though high premiums have compensated producers to a degree.