Alcoa CEO says improving cost position amid historic shift, CNBC reports Alcoa CEO Klaus Kleinfeld told CNBC in an interview that the metals industry is experiencing its biggest transformation in 125 years and that the company no longer has to focus on metals markets fluctuations as demand for lighter aluminum alloys has gone "mainstream." Kleinfeld added the company could now be profitable "no matter where the metal price is" as a result of its cost-cutting, the report noted. Reference Link
Alcoa rallies with Freeport-McMoRan, materials sector Shares are up over 5% to $9.33 at time of writing, putting it above downtrend resistance at the 10-day moving average. At that price next resistance is at $9.51. Support is at $9.19.