Aluminum shipments seen rising in ’12
Dec 20, 2011 | 04:41 PM
| Suzy Waite
Tags
MSCI,
Metals Service Center Institute,
aluminum distributors,
suzy waite
NEW YORK — Aluminum shipments by U.S. distributors are expected to pick up speed in the first quarter after a traditional sluggish year-end, market sources told AMM.
"I do think business will be good (next year)," a service center source said.
A recent drop in aluminum prices on the London Metal Exchange, which some players expect could last into the new year, was one factor behind the expected boost in shipments. On Tuesday, LME cash aluminum closed at $1,971 per tonne, continuing the light metal’s return to lows last logged in July 2010.
"I think the first quarter could have a bit of a (buying) spurt, sure. Now is a much better time to be buying metal than a month or two months ago," a second distributor source said, noting that while a lot depends on Europe, he is optimistic for 2012 as long as the automotive and aerospace sectors remain steady.....
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