Better price spreads unlikely for Nichols: exec
Sep 04, 2013 | 04:35 PM
| Michael Cowden
CHICAGO An improvement in the spread between aluminum prices and scrap tags may not be in the cards for the aluminum industry in the short term, according to Quanex Building Products Corp. executives.
The Houston-based companys Nichols Aluminum LLC subsidiary continued to face strong headwinds in the global aluminum markets as low prices on the London Metal Exchange and high scrap tags continued to hammer spreads, they said during a Sept. 4 conference call with analysts.
"While a minor improvement from near-record lows is possible in the next few quarters, a meaningful recovery in net spreads does not appear likely in the foreseeable future," Quanex chairman, president and chief executive officer William C. Griffiths said.....
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