The aluminum giant, Alcoa Inc., posted less-than-expected loss worth $454 million in its recent quarter, signifying stabilization of the market in future.

When contacted, Alcoa Inc's chief executive, Klaus Kleinfeld, said that aluminum prices started rising as markets like the automotive sector, started showing some signs of recovery.

Mr. Kleinfeld further added, "We can see the improvement in the second quarter."

In the recent quarter, the company's net income plunged to a loss of 47 cents per diluted share, as compared with net income for the same period in the last year.

Company's revenue tumbled 42 percent to $4.24 billion in the quarter, compared with $7.25 billion last year.

Aluminum at present sells for approximately 74 cents a pound, down from record highs of around $1.50 a pound previous summer.

Alcoa Inc. witnessed a sharp drop in its sales as company's big customers like Boeing Co. and Europe's Airbus SA; either cancelled or delayed orders due to economic downturn.

In the recent trading, Alcoa Shares soared to $9.87 a share, gaining 41 cents.