Aleris hurt by narrowing spreads in 4th qtr.

Mar 10, 2014 | 02:58 PM | Nathan Laliberte

Tags  Aleris, aluminum, scrap, scrap spreads, Steven Demetriou, Nathan Laliberte

NEW YORK — Narrowing scrap spreads have continued to negatively impact Aleris International Inc.’s North American rolled product margins, executives said, citing weak London Metal Exchange prices and historically high U.S. Midwest aluminum premiums.

The Cleveland-based company has not seen prices for rolled products move in step with spiking Midwest premiums, Aleris chairman and chief executive officer Steven J. Demetriou noted during an earnings conference call March 10. “We have not seen a penny-for-penny impact based on (higher) premiums,” he added.....

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