Kaiser Sees No Meaningful Recovery In Aluminum Demand
April 29 2010 - 8:20AM
Dow Jones News
Demand for aluminum fabricated products will remain flat in the
second quarter of the year with no meaningful recovery yet seen,
the Chief Executive of Kaiser Aluminum Corp. (KALU) said late
Wednesday.
"We anticipate demand in the second quarter 2010 for our
products will be similar to the demand we saw in the first
quarter," said Jack Hockema.
"Although we have not yet seen meaningful improvement in real
demand, supply chain inventories appear to be reaching equilibrium
and destocking appears to be moderating."
Kaiser supplies aluminum to the aerospace and defense, general
engineering and automotive industries.
Hockema said the company was encouraged by solid order backlogs
and recent announcements by large commercial airframe manufacturers
regarding their plans to increase production in late 2010.
However, commercial airframe manufacturers are likely to
continue working through surplus inventories built during prior
production delays in the near-term, he added.
Kaiser has 10 U.S. fabrication facilities and one Canadian
facility. The operations typically produce and ship more than 500
million pounds of aluminum products a year.
-By Andrea Hotter, Dow Jones Newswires; +44 (0)20 7842 9413;
andrea.hotter@dowjones.com
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