Buyers don't need to wait in queues: Alcoa

Nov 08, 2012 | 01:01 PM | Andrea Hotter

Tags  Klaus Kleinfeld, Alcoa, aluminum, warehouse queues, aluminum prices, LME, Andrea Hotter

NEW YORK — Aluminum consumers should buy directly from producers and stop complaining about long queues at warehouses and the high cost of buying physical metal, according to Alcoa chief executive officer Klaus Kleinfeld.

Consumers made the "dangerous assumption" that aluminum prices were going to fall, and this set them up for difficulties if they delayed purchasing metal, he told AMM.

"What we believe we’re seeing is that many consumers reduced their amount of buying in the market because they assume the metal price is going to be lower, or even lower going forward. And then when it isn’t that way, we’re hearing people complaining about the queues and the warehouses, or high regional premiums," Kleinfeld said.....

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