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The company stuck to its forecast that aluminum demand will grow 12 percent this year and double by 2020. It said demand in China was mostly offsetting weakness in Europe.
Alcoa said that other than Europe, most markets kept growing although at a slower pace than in the first half of the year as hopes faded for a global economic recovery.
Still, revenue rose 21 percent to $6.42 billion, topping analysts' forecast of $6.24 billion.
Alcoa's stock price has been falling even faster than the price of aluminum -- down 40 percent in the quarter to its lowest levels since early 2009.
On Tuesday, Alcoa shares rose 21 cents, or 2.1 percent, to close at $10.30 before the results were released. In extended trading, they fell 52 cents, or 5.1 percent, to $9.78.
Alcoa was the first company listed in the Dow Jones industrial average to report third-quarter results.
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