Alcoa CEO says cost position improving amid industry transformation

|By:, SA News Editor

Alcoa (AA +0.5%) CEO Klaus Kleinfeld tells CNBC that the metals industry is experiencing its biggest transformation in 125 years, as higher demand for lighter aluminum alloys from the auto and aircraft industries means a shift away from smelting.

Alcoa no longer needs to focus on fluctuations in the metals markets as demand for lighter aluminum alloys has gone "mainstream," Kleinfeld says.

Kleinfeld says the company could now be profitable "no matter where the metal price is" as a result of its cost-cutting.