Tennessee-based aluminum roller Kaiser Aluminum maintained its outlook for total 2024 shipments alongside flat third quarter shipments and earnings.
Kaiser expects demand to remain consistent with previous expectations through the end of the year but remains cautious because of ongoing commercial and labor negotiations by its aerospace and high strength applications customers. In general engineering, the company has destocked its long products and is now shipping products in what it considers to be in line with market demand.
The company did not make strong forecasts for business in 2025 but did note it had contracted for about 70pc of capacity at its Warrick mill's new coating line.
Kaiser also reported third quarter shipments across all sectors of 292mn lbs, down from 299mn lbs in 2023. The company did not report shipment numbers by product for the third quarter.
The company reported a profit of $12mn in the third quarter, up from $5mn in the same period a year earlier.
