Constellium upbeat despite low LME prices
Jun 17, 2013 | 06:10 PM
| Michael Cowden
CHICAGO A little red ink isnt getting in the way of Constellium NVs plans to push further into value-added aluminum products and its optimism about the long-term prospects for aluminum in the aerospace and automotive sectors.
The aluminum company posted a 2-million ($2.7-million) net loss (amm.com, June 17) for the three months ended March 31, but the results would have been better if they were adjusted to reflect constant metal prices and foreign exchange rates, Constellium chief financial officer Didier Fontaine said.
During the quarter, the average cash aluminum price on the London Metal Exchange dropped to $1,912.78 per tonne in March, down 6.1 percent from an average of $2,037.20 in January. In May, that average declined further to $1,830.26 per tonne.....
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