Margin pinch puts Aleris in red in quarter
Mar 05, 2013 | 05:54 PM
| Nathan Laliberte
Tags
Aleris International,
Steve Demetriou,
earnings report,
margin squeeze,
Zhenjiang,
Nathan Laliberte
NEW YORK — Aleris International Inc. posted a $6.9-million net loss in the fourth quarter of 2012, squeezed by the effects of "continued margin pressure in the scrap market in the face of steady demand," the company said.
"Tight metal spreads continue to negatively impact margins in our specification alloy business, which hurt our overall results for the quarter and the year," chairman and chief executive officer Steven J. Demetriou said during a conference call with analysts. "To restore profitability and reduce volatility in our specification alloy business, we are working towards better aligning the cost of scrap used to produce the products we offer our customers."....
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