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Alcoa says global aluminium demand to fall 5.5 pct -Bloomberg

Friday, Sep 04, 2009
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Sept 3 - The largest U.S. aluminium maker, Alcoa Inc cut its forecast decline in global consumption of the metal this year to 5.5 percent, from 7 percent earlier, Chief Executive Klaus Kleinfeld told news agency Bloomberg. Kleinfeld, citing China's stimulus spending, said the country's demand for the lightweight material would rise 8 percent in the second half from a year earlier, with full-year consumption up 4 percent, against the firm's earlier expectation of no growth in 2009. "China is back," Kleinfeld said, adding that the country, the world's biggest aluminium consumer and producer, "had a lot of shovel-ready projects" for 2011, now being started by the government in response to the global economic slowdown. (Reporting by Ajay Kamalakaran in Bangalore; Editing by Clarence Fernandez) (ajay.kamalakaran@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800 +1 646 897 1898; Reuters Messaging: ajay.kamalakaran.reuters.com@reuters.net))

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