Winter chills A.M. Castle’s 1st-qtr. results

Apr 29, 2014 | 03:48 PM | Michael Cowden

Tags  A.M. Castle, Scott J. Dolan, aluminum, steel, metal prices, bar, plate, aerospace mining

PITTSBURGH — A.M. Castle & Co. bled more red ink in the first quarter after being hit by a one-two combination of harsh winter weather and "uneven" economic growth.

But the Oak Brook, Ill.-based specialty metals distributor predicted that metal prices and activity levels could improve later in the year as business rebounds and poor weather subsides.

Price decreases were most pronounced for aluminum, stainless and alloy bar products, while special bar quality (SBQ) and nickel products saw improved pricing, Castle president and chief executive officer Scott J. Dolan said during an earnings conference call April 29. Plate product volumes were "flat" because of "continued softness" at some mining and heavy machinery customers.....

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