Alcoa profit rises, won’t speculate on asset sales

Alcoa, the largest US aluminium producer, reported a higher quarterly profit on Monday as its raw materials segments improved even as prices sagged, but lower-than-expected revenue and an uncertain outlook dragged down the company’s share price.

Stubbornly low aluminium prices have weighed on the company’s business of mining bauxite, refining it into alumina and smelting alumina to produce aluminium.

via Business feed http://www.scmp.com/business/companies/article/1210592/alcoa-profit-rises-wont-speculate-asset-sales