BMO Capital Markets downgrades Alcoa shares

Canadian Business.com reports that Alcoa (NYSE:AA) have been downgraded by BMO analysts.

The story is quoted as saying:

Robson said in a note this week that Alcoa’s forecast of growing demand for aluminum relies mostly on China and other Asian markets, far from the company’s smelters in North America. He also discounted Alcoa’s expectation of a balance in aluminum supply and demand, saying he expects a surplus and growing inventories that could push prices lower.

To access the full story, click here.