Aluminum shipments drop 2.7% in Nov.
Dec 23, 2011 | 11:06 AM
| Suzy Waite
Tags
Davenport & Co.,
Aluminum Association,
extruded shapes,
foil,
can sheet,
sheet,
plate,
destocking
orders
NEW YORK — Aluminum orders in North America fell 2.7 percent in November from the previous month due to continued destocking ahead of the year’s end as well as uncertainty about aluminum prices, according to Davenport & Co. LLC data based on seasonally adjusted figures from the Aluminum Association.
"Orders remain in a choppy, subpar uptrend. This marks the second month of declining orders; however, they remain up strongly from 2010," analysts at Richmond, Va.-based Davenport said in a research note. "The decline makes sense given continued destocking ahead of year-end and uncertainty on the outlook of aluminum prices."....
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