Feb 21 Century Aluminum Co reported a
smaller quarterly loss on Thursday as its costs fell and said it
saw a modest improvement in market conditions.
The Monterey, California-based company, which operates
aluminum plants in the United States and Iceland, said China's
economy seems to have, at minimum, stabilized.
Cost of goods sold fell to $301.1 million in the fourth
quarter to Dec. 31 from $331.8 million a year earlier, when that
figure included a $6.3 million charged related to the value of
the company's inventory.
Chief Executive Michael Bless said in a statement that each
of the company's plants reduced its cost base in 2012.
Century's net loss narrowed to $6.9 million, or 8 cents a
share, compared with a loss of $31.1 million, or 35 cents, a
Analysts, on average, had expected a loss of 14 cents,
according to Thomson Reuters I/B/E/S.
Sales slipped to $317.7 million, slightly less than expected,
from $318.2 million.
Shipments of primary aluminum rose to 162,303 tonnes from