Alcoa CEO Sees Strong Demand In 2010 (AA)

Alcoa AA CEO Klaus Kleinfeld told CNBC Friday that demand for the company's products will rise 10 percent in 2010. Half of that demand will be Chinese-driven. Kleinfeld spoke with CNBC from the St. Petersburg International Economic Forum. Kleinfeld is not concerned about a slowdown in China's growth and says the lowest number he's heard for growth prospects in 2010 has been 8 percent. The CEO touted the continued popularity of aluminum due to its many uses. He cited the recyclability of aluminum and noted that 75 percent of all aluminum produced on this planet is still in use today. He also mentioned how auto-makers will need to meet new guidelines for lighter-weight cars and aluminum fits this need well. Alcoa has two plants in Russia that can produce metal and products for the aerospace industry. Alcoa has invested $500 million in Russia and employs about 5,400 workers.