Alcoa bleeds from slump in prices

Aluminum producer Alcoa Inc reported a second consecutive quarterly loss on Tuesday (local time), as metal prices and the autos industry slumped and global demand fell in the economic downturn.

Alcoa's first-quarter net loss was $497 million, or 61 cents per share, compared with a profit of $303 million, or 37 cents, in the 2008 quarter, the Pittsburgh-based company said. The loss from continuing operations was 59 cents per share.