Loss fails to quash Century’s optimism

Feb 21, 2013 | 06:35 PM | Michael Cowden

Tags  Century Aluminum, Michael Bless, earnings results, Mount Holly project, Ravenswood plant, Hawesville smelter, electricity costs, aluminum Michael Cowden

CHICAGO — Century Aluminum Co. remains cautiously optimistic about the prospects of the aluminum market in the United States and abroad despite posting a full-year net loss.

"We are witnessing a modest improvement in general market conditions," Michael Bless, president and chief executive officer of the Monterey, Calif.-based aluminum producer, said in a Feb. 21 earnings report. "In the U.S., our key markets remain generally strong, with encouraging conditions in important sectors such as transportation."

Abroad, economic activity in China has "at least stabilized," with signs of faster growth in the country emerging, Bless said. In the eurozone area, industrial activity remains depressed but the risk of a sovereign or banking crisis has eased, he added.....

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