Aluminum premiums hurting remelt business: Brandtzaeg
Sep 26, 2012 | 10:46 AM
| Andrea Hotter
NEW YORK Record-high aluminum premiums are typically positive for producers, but are starting to eat into the profits of companies that remelt metal, according to Norsk Hydro ASA chief executive officer Svein Richard Brandtzaeg.
High premiums are "in general positive" for the company, particularly as it gets paid more for the value-added products it produces, the head of the Norway-based producer told AMM sister publication Metal Bulletin in an interview.
But Hydro also has a significant portion of remelt, where cold metal, or standard ingot, is one of the input costs. "In this part of the business, we have seen reduced profitability due to standard ingot premiums," he said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.