Clarence Morrison
Clarence Morrison
bad cents costs goes improvement pound price prices realizing spread unlike whether widening year
It wouldn't have been a bad year if prices hadn't improved. They were realizing 3-4 cents a pound improvement in costs each quarter. So unlike other aluminum companies, they can keep the spread widening whether price goes up or not.
customers hard last late ran steel
Most of the steel customers ran their inventories down very hard late last year.
although companies flat quarter slightly third versus year
Most of the aluminum companies will be flat to slightly up in the third quarter versus a year ago, although there will be one or two that will be up 50 percent.
costs reducing remarkable strategy winning
It's a remarkable story. Their strategy of aggressively reducing costs and aggressively making acquisitions is a winning combination.