Mart will support aluminum premiums: Century

Feb 21, 2014 | 02:26 PM | Michael Cowden

Tags  aluminum, Century Aluminum, Michael Bless, Midwest premium, Morgan Stanley Research, automotive, aerospace, scrap capacity cuts

CHICAGO — Midwest aluminum premiums may slip from current high levels but are unlikely to crash, according to Century Aluminum Co.’s top executive.

The Midwest premium is currently "just shy" of 20 cents per pound compared with 10 to 12 cents in December, Century president and chief executive officer Michael Bless said during a conference call with analysts after the release of earnings data Feb. 20.

"We are not planning on these types of elevated levels to persist," Bless said. "But we do believe that there are some structural changes that will support premiums comfortably above historical levels." European duty-unpaid aluminum premiums also are up significantly, he said.....

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