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Alcoa sees net loss of $746 million in Q3

US-based Alcoa recorded net losses of US$746 million attributable to the corporation, and US$4.17 per share, as the company battled with lower alumina and aluminium prices coupled with higher costs for energy and key raw materials.

Nathan Richardson
“This was a double whammy of lower prices and higher costs as costs in this business tend to lag prices,” Jefferies said.

“This was a double whammy of lower prices and higher costs as costs in this business tend to lag prices,” Jefferies said.

The results compared to a year earlier when Alcoa saw a net income of US$337 million, and US$1.76 per share. In Q2 of this year, Alcoa's attributable net income had been US$549 million, while investors...

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