Noranda Aluminum profit falls on lower prices

　　Noranda Aluminum Holding Co said first-quarter profit fell, hurt by lower aluminum prices and a drop in sales.

　　Persisting global macro-economic concerns, particularly the European sovereign-debt crisis and fears of slowing economic growth in China, have dampened aluminum prices, the Tennessee-based company said.

　　A global supply glut has hurt prices and some analysts expect excess capacity in aluminum smelting to drag on for years to come.

　　Net profit fell to $16.2 million, or 24 cents a share, from $38.3 million, or 56 cents a share, a year ago.

　　Revenue fell 10 percent to $353.5 million.

　　Noranda operates a mine in Jamaica to produce bauxite that is refined into alumina at its Gramercy, Louisiana facility. The alumina is then smelted into aluminum at Noranda's smelter near New Madrid, Missouri.