Aluminum premiums to hold firm: Davenport
Jun 28, 2013 | 10:24 AM
| Michael Cowden
CHICAGO Production cuts announced by aluminum producers wont be enough to offset tepid aluminum demand this year, although regional premiums should continue to climb, according to Davenport & Co. LLC analysts.
"Producers are coming to terms with low aluminum pricesfinally. However, the majority of these cuts have yet to be implemented," analysts Lloyd T. OCarroll and John F. Ockerman said in a June 27 note to investors.
Aluminum prices will fall this year but should improve in 2014 thanks in part to slowing demand growth being offset by global production cuts, the analysts said, and aluminum demand should grow significantly over the next 10 years largely due to increased auto industry demand for aluminum body sheet. ....
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