Auto, packaging boost Constellium Al shipments

Amsterdam-based rolled aluminum producer Constellium's shipments climbed by 6pc in the first quarter from a year earlier on strong demand from the packaging and automotive sheet sectors.

Constellium shipped 413,000t of rolled aluminum globally during the first quarter, up from 388,000t the prior year.

Shipments from the company's packaging and automotive rolled products group rose by 9pc to 281,000t from a year earlier, as aerospace and transportation shipments edged up by 2pc to 66,000t. Shipments from the automotive structures and industry group rose by 1pc to 66,000t from a year earlier.

Sales rose by 11pc to €1.53bn in the first quarter from a year earlier, mostly reflecting Constellium's takeover of rolling mill Tri-Arrows' share of its Bowling Green, Kentucky, automotive sheet joint venture in December 2018.

The company posted a €24mn profit for the quarter, compared with a €24mn loss a year earlier, on unrealized gains from derivatives.