Reliance's aeropace plate outlook improves
Apr 24, 2014 | 04:55 PM
| Michael Cowden
CHICAGO Reliance Steel & Aluminum Co.s second-quarter results were dinged by Midwest premium volatility and pressure on aluminum plate prices as a result of import competition and an aerospace supply chain glut.
But the aerospace inventory overhang, which had been predicted to run into 2015, is showing signs of abating especially as aircraft manufacturers push their suppliers to work more quickly through backlogs stretching out as far as eight years, company executives said.
As you look at this year, well continue to fight the fight, Reliance senior vice president of operations William K. Sales Jr. said during the Los Angeles-based service centers first-quarter earnings conference call April 24. But as that inventory gets lower, it will put less pressure on pricing, and then I think the pricing outlook for next year will be more positive.....
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