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Aluminium giant Alcoa has rebounded to profit, reporting fourth-quarter net income of $258 million, as company executives predict that world demand for the metal will double during the next ten years.
Alcoa benefited from a four percent rise in sales compared with the same period a year ago when the company revealed a loss of $277 million due to lower aluminium demand and prices.
However, the company - which counts major industries such as airlines, automotive and consumer goods manufacturers among its customers - said average per ton prices of aluminium have risen sharply during the past 12 months.
An indepth market analysis, entitled "The Aluminium Market Analysis, Financials and Forecasting 2011-2016", charts the key fundamentals and trends affecting the global aluminium market as well as providing market forecasts for the next five years.
The newly-published report's authors predict that the global value of the aluminium industry will reach $99.9 billion in 2011 and will shortly break the $100 billion barrier.
Amid other valuable sector insights, the report notes that as the global aluminium market undergoes regional shifts and technological changes, the future of the industry will look very different, leading to growth opportunities.
Author: Justin Cole, analyst.
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