Noranda hit by sinking LME, Hurricane Isaac in third qtr.
Oct 24, 2012 | 05:45 PM
| Suzy Waite
Tags
Noranda,
third quarter earnings,
Layle Kip Smith,
aluminum,
London Metal Exchange,
Suzy Waite
NEW YORK — Noranda Aluminum Holding Corp.’s third-quarter 2012 net income plummeted 87.6 percent from the year-ago quarter as the price of aluminum on the London Metal Exchange declined and shipments were disrupted due to Hurricane Isaac earlier this summer.
Noranda reported net income of $3.8 million in the three months ended Sept. 30, down from $30.8 million in the same period last year, marking an 85-percent plunge from $25.3 million in the second quarter of 2012.....
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