Alcoa sees bigger-than-expected aluminum surplus due to China

NEW YORK (Reuters) - Alcoa (NYSE: AA) raised its forecast for the global aluminum surplus by more than half as China, the world's top producer and user of the light metal, has not cut output as much as expected, a senior executive said on Wednesday.

The U.S. aluminum producer expects supply to outpace global demand by 760,000 tonnes this year, some 400,000 tonnes higher than its previous forecast, Chief Financial Officer and Executive Vice President William Oplinger said in a conference call to discuss second-quarter results.

Oversupply in China will be 2.2 million tonnes this year, up from 1.8 million tonnes previously, he said.

(Reporting by Josephine Mason; Editing by David Gregorio)

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