Bless cites speculation for aluminum price drop
Apr 26, 2013 | 02:55 PM
| Michael Cowden
CHICAGO Century Aluminum Co. has been hit by a global drop in commodity pricesperhaps driven by speculationat the same time that aluminum capacity continues to increase, according to president and chief executive officer Michael Bless.
Cash prices for aluminum on the London Metal Exchange averaged around $2,000 per tonne in the first quarter, roughly on par with the fourth quarter of 2012, Bless said during a conference call with analysts. But March saw a "rapid" decline in LME prices to a range of $1,850 to $1,900 per tonne. ....
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