Aluminium giant Alcoa has recently reported a sequential and year-over-year increase in third quarter profit for 2013 driven by strong operating performance and productivity gains, despite lower metal prices. Net income was USD24m. Excluding the impact of special items, net income was USD120m. Results were led by continued strength in Engineered Products and Solutions and Global Rolled Products, despite traditional third quarter weakness. Global Primary Products overcame falling metal prices and lower premiums to deliver significant performance improvement through productivity gains. The company reported Q3 2013 revenues of USD5.8bn, steady compared with the previous quarter and the year ago period, despite a 3% sequential and 7% y-o-y decline in the LME cash price of aluminium.
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