DJ Kaiser Aluminum: Shipments Stabilize, Destocking Moderates

Wed. October 28, 2009; Posted: 09:57 PM

Oct 28, 2009 (Dow Jones Commodities News via Comtex) -- KALU | Quote | Chart | News | PowerRating -- DOW JONES NEWSWIRES

Kaiser Aluminum Corp. (KALU) said shipments of aluminum products for the aerospace and automotive industry have stabilized over the past several months, with total shipments of 146.7 million pounds (66,560 metric tons) for the September quarter.

This compares with total shipments of 159.5 million pounds for the same quarter last year.

"Despite ongoing challenges presented by the weak global economy, we are encouraged that our shipment level has stabilized over the past several months, and we remain very optimistic regarding the long-term prospects for our company," said Chief Executive Jack A. Hockema.

"In the near term, we anticipate the market outlook will remain similar to conditions experienced in the previous six months," Hockema said.

Overall demand during the September quarter remained weak, Hockema said, but "we experienced a modest sequential increase in shipments as service center de-stocking moderated and automotive build-rates increased during the quarter."

Shipments during the first nine months of the year totaled 429.8 million pounds, down from 533.6 million pounds the previous year.

Slow demand recovery in OECD countries has been a key worry for the aluminum market looking for signs of improvement beyond Asia.

-By Elisabeth Behrmann, Dow Jones Newswires;

61-2-8272-4689 elisabeth.behrmann@dowjones.com

(END) Dow Jones Newswires

10-28-09 2157ET

For full details on Kaiser Aluminum Corp (KALU) click here. Kaiser Aluminum Corp (KALU) has Short Term PowerRatings of 5. Details on Kaiser Aluminum Corp (KALU) Short Term PowerRatings is available at This Link.

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