CEO and Chairman of Alcoa (NYSE:AA), Klaus Kleinfeld, reiterated Friday that China demand for the company products will grow by 10 percent, although acknowledges there's a possibility of that slipping to 8 percent in light of the battle against inflation in their urban property markets.
Kleinfeld believes it'll be closer to the 10 percent figure, and has stated that in the recent past.
With aluminum demand down, Kleinfeld has been seen and heard in the media lately touting the benefits of aluminum and the bright future it has.
Kleinfeld said, “When you think about things like recyclability, aluminum is endlessly recyclable. Seventy-five percent of all aluminum produced on this planet is still in use today.”
Even so, Alcoa has shrunk its aluminum can recycling business quite a bit, focusing on more profitable businesses.
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