Alcoa Inc said Tuesday that fourth-quarter earnings met Wall Street's expectations, and it sees slightly higher demand for aluminium this year.
Net income was US$242 million, or 21 cents per share. That includes one-time gains like income from selling a hydroelectric project.
Without those gains, the company would have made six cents per share on revenue of US$5.9 billion. Sales were higher than the US$5.58 billion that analysts predicted.
The weak global economy has hurt demand for aluminium used in everything from airplanes to soda cans. But Alcoa sees demand growing seven per cent in 2013, up from a six per cent gain in 2012, with the best prospects in aerospace but slower improvement in demand for autos, packaging, and building and construction materials.
The company said it hit record profits in its aluminium-rolling and product-making businesses while cutting costs in its mining and refining or "upstream" segment.