Romanian aluminium maker Alro grasps benefits of higher commodity prices but stays in the red
Romanian BVB-listed company Alro Slatina (BVB: ALR), one of the largest vertically integrated aluminium producers in Europe and the largest consumer of electricity in Romania, said its losses narrowed to RON 18 mln (EUR 3.6 mln) in Q1, from RON 62 mln in the same period last year, according to data from the financial report published on the Stock Exchange.
The company explained that the sales could not offset the high production costs resulting from commodity and utility prices.
Alro also reported a consolidated turnover of RON 1.1 bln, 48% higher than in Q1 last year, amid higher deliveries of processed products. and a rise in the price of aluminium on the London Metal Exchange (LME).
In this respect, the company noted that the average quotations of LME in Q1 of 2022 (USD 3,280 per ton) increased by 56% compared to Q1 of 2021 (when it was USD 2,096 per ton).
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