Kaiser Aluminum’s Q2 revenue impacted by COVID-19 epidemic
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Update time : 2020-07-30 16:53:07
Kaiser Aluminum, a US-based aluminum producer, reported that its net sales were US$276 million in the second quarter, compared to US$375 million in the same period a year ago. The decrease was due to a 24% drop in shipments and a 4% reduction in average selling prices during the reporting period.
During the period, Kaiser Aluminum’s revenue from value-added products was US$175 million, a year-on-year decrease of 17%, due to the fact that end-market customers temporarily suspended their operations during the COVID-19 epidemic, leading to a decrease in delivery and demand.
Besides, the firm had a net loss of US$7 million in the second quarter, compared to a net profit of US$19 million in the same period in 2019.
US primary aluminium production shows a 4% monthly rebound in October, but no positive change seen in YTD output
