Secondary aluminum alloy market eyes post-storm auto demand bump in ’13
Nov 21, 2012 | 11:58 AM
| Daniel Fitzgerald
NEW YORK Secondary aluminum alloy producers are cautiously optimistic about the possibility of increased automotive demand to replace cars destroyed by Hurricane Sandy, while scrap traders say it will take a while for any impact on shredded flows and pricing.
One alloy producer contacted by AMM said he expected automotive companies to boost their aluminum consumption in an effort to avoid "going short on inventory" as production increases.
"I think its a big deal for the secondary aluminum business. If you sell more cars, you have to produce more, and theyll sell more in the next 60 days. ... We should have an increase in production, which will increase the price of aluminum sometime in December," he said.....
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