Copying and distributing are prohibited without permission of the publisher
Noranda largely bullish on aluminium
April 25, 2013 - 12:38 GMT
Noranda quarterly earnings
Noranda Aluminum Holding Corp remains largely optimistic about aluminium, with firm demand for value-added aluminium products and high premiums helping offset declining prices on the London Metal Exchange during the first quarter, executives said in conference call on Wednesday April 24.
Although the Franklin, Tennessee-based aluminium producer
saw earnings slide during the quarter, it was able to turn a
profit despite some estimates that as much as 49% of global
aluminium capacity is running at break-even or at a loss,
president and ceo Layle K 'Kip’ Smith said. Smith
attributed the company’s relative success in part
to the fact that it ships more than 98% of its products to
destinations in the USA. "Right now, being aligned with the US
economy is a very good place to be," he said. Noranda has seen
solid sales of extrusion billet and foundry alloys thanks to
strong demand from the building and construction sector and the
transportation industry, Smith...
All material subject to strictly enforced copyright laws. ©
Euromoney Institutional Investor PLC.
Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.
If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.
A standard subscription include one year's worth of news and prices. You can also upgrade to a premium subscription and benefit from news and pricing data going back to 1997 plus access to our online database - MB Company Data.
Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.