Ormet expects aluminum prices to rise

Sep 03, 2013 | 03:49 PM | Michael Cowden

Tags  Ormet, Public Utilities Commission of Ohio, Wayzata, Smelter Acquisition, American Electric Power, AEP, aluminum prices, LME Midwest premium

CHICAGO — Ormet Corp. expects aluminum prices to rise as it returns to full capacity at its Hannibal, Ohio, smelter in the coming years, according to details previously redacted from a business plan filed with Ohio regulators.

The bankrupt Hannibal, Ohio-based aluminum producer said in the plan that it expects London Metal Exchange cash aluminum prices to average $2,300 per tonne ($1.04 per pound) in 2014 and $2,400 per tonne ($1.09 per pound) in 2015, according to documents filed Aug. 30 with the Public Utilities Commission of Ohio.....

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