Alcoa Corp (NYSE:AA) had mixed quarterly results as revenue rose, but missed analysts’ expectations.

The aluminum producer’s fourth quarter left something to be desired

, mostly due to the rising costs for energy and raw materials in an unfavorable exchange rate market. Earnings came in at a loss of $1.06 per share, compared with a net loss of 68 cents per share a year ago.

On an adjusted basis excluding certain items, Alcoa earned $1.04 per share, which was well below the Wall Street consensus estimate of $1.23 per share, according to data compiled by Bloomberg which included predictions from 11 analysts. In the year-ago quarter, the company earned around 14 cents per share on an adjusted basis.

Revenue was better by 25% compared to the year-ago quarter at$3.17 billion, but still failed to reach the Wall Street projection of $3.29 billion. Alcoa said it expected to experience this downturn due in part to the global aluminum market turning a deficit recently over a supply-side reform in China.

The Asian country said it will have a surplus of 1.5 million to 1.7 million tons of aluminum in 2018, Alcoa said. The figure is below the October projection of 1.8 million to 2 million in 2017.

The company sees the global aluminum demand in 2018 at 4.25% to 5.25%, adding that its final projection for the last year is 5.25%.

AA shares declined more than 6.3% after the bell Wednesday.