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Alcoa Inc said that its third consecutive quarterly loss recently as lower demand from automakers and the construction industry keeps the metal at about half of last year’s prices. Alcoa said that its results for the 3 months through June is expected to report a loss excluding some items of 38 cents a share as compared to profit of about 71 cents a share a year earlier. Alcoa has cut output by about 20%, slashed 13,500 jobs and sold a unit as the global recession depresses demand and prices for aluminum.
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