Noranda posts 2013 net loss on LME’s fall

Feb 19, 2014 | 11:20 AM | Michael Cowden

Tags  Noranda, Layle Smith, earnings results, aluminum prices, Midwest premium, London Metal Exchange, LME, Michael Cowden

CHICAGO — Noranda Aluminum Holding Corp. plunged into the red in 2013 amid low aluminum prices and higher natural gas and electricity costs.

Heavy customer destocking in the fourth quarter also hurt the company’s flat-rolled business, the Franklin, Tenn.-based aluminum producer said in statement on its earnings data Feb. 19.

But the demand outlook for aluminum products is favorable, a trend that should support sales volumes and product premiums, Noranda president and chief executive officer Layle K. "Kip" Smith said in statement.....

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