The outlook for aluminum is more positive than the steep drip in price since April may suggest. The world’s largest producers of the metal are confident that 2012 will see robust demand growth, and some have even invested millions in upgrading production capacity. Automotive production will be the main catalyst for growth.
The end of the summer slowdown may be near. The price of aluminum has made some moderate gains since falling from the year high in early May. Forecasts for the growing demand for aluminum are strongest in the aerospace and transportation sectors. Furthermore, China may become a net importer of the metal in the coming years.
Bloomberg reports that some companies on the Argentinian stock exchange saw unusual trading today.
Bloomberg reports aluminum inventories monitored by the London Metal Exchange rose on increases in Detroit.
Forbes reports that analysts with Harbor Intelligence have issued a recommendation for consumers to buy aluminum.
Bloomberg reports that aluminum inventories extended their longest decline to six years led by removals in Asia.
Analysts are in agreement at Harbor Intelligence’s Annual Aluminum Outlook Conference predicting stable to higher prices on the year. Also, Coca-Cola accuses Goldman Sachs of manipulating aluminum prices.
Forbes reports that Alcoa (NYSE:AA) has a significant influence on the aluminum industry.
After aluminum’s recent slump, many smelters are unprofitable- a reality that may lead to forced shutdowns.
Guinea’s Bellzone, top supplier of aluminum ore bauxite, hopes to bag the second major international investment in the mining field second to Vale, a Brazilian giant who made a $2,5-billion deal in April. This was confirmed by Mines Minister Mahmoud Thiam. Mines Minister Mahmoud Thiam is quoted saying during a Reuters interview: “We are aware [...]
Wednesday, September 21, 2011