NEW YORK ( TheStreet) -- Aluminum or aluminium?On the London Metals Exchange, the only bourse in the world where the light, malleable, corrosive-resistant metal is traded, it's the latter: al-yoo-MIN-ee-um. And when it comes to Alcoa ( AA), the third-biggest producer of aluminum/aluminium in the world, investors know to pay attention to the LME, situated at No. 56 on the appropriately named Leadenhall Street, in the heart of the Square Mile of the City of London. That's because Alcoa shares tightly track the price of the metal on the venerable exchange (as do the equities of all aluminum producers). And that's because nearly two-thirds of Alcoa's business -- as measured by earnings before interest, taxes, depreciation and amortization -- comes from its "upstream" segment, which produces raw alumina and primary aluminum, as opposed to finished products like beer cans or aviation-grade sheet metal.
|Inside an Alcoa aluminium smelter|