Alcoa’s Board of Directors Elects New Member; LME Aluminum Falls

Alcoa announced today in a press release, “that its Board of Directors has elected Carol L. Roberts a director of the Company and member of the Audit Committee of the Board.”

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“Ms. Roberts, 54, is Senior Vice President and Chief Financial Officer of International Paper Company (IP), a global leader in packaging and paper with manufacturing operations in 24 countries and 2012 net sales of $28 billion. Her career spans engineering, manufacturing, business management, human resources and finance, bringing a strong set of cross-functional experiences to the Alcoa Board.”

In metal price news for aluminum…

Following two days of increases on the LME, the aluminum 3-month price dropped by 1.5 percent to end at $1,786 per metric ton on Wednesday, January 22. The primary aluminum cash price saw a 1.4 percent decline on the LME to $1,742 per metric ton. The Indian aluminum cash price declined 0.6 percent, after two days of improvement.

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Chinese aluminum closed mixed yesterday. The cash price of Chinese aluminum declined 0.2 percent. Chinese aluminum scrap saw little change in its price yesterday. The price of Chinese aluminum billet remained essentially flat. The price of Chinese aluminum bar was unchanged.

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