12 DECEMBER 2013Aluminium Association
Aluminium Highlight from US and Canada
Edited by : AL CIRCLE
1 min read
The LME cash price fell below $1,700/mt this week, marking its lowest level in nearly four-and-a-half years. Meanwhile, aluminum fundamentals do not appear to be deteriorating. Global days supply held at 52 in October. On the one hand, days supply is close to its lowest level during the global economic recovery. On the other hand, it is still quite high historically. A major reason why days supply has declined is the rise in aluminum demand, which we estimate is up nearly 6% so far this year. The U.S. is doing its part to support demand.
Aluminum imports of ingot, scrap and mill products into the U.S. and Canada (excluding cross-border trade) totaled 362 million pounds during October 2013, down 3.3 percent from the October 2012 total of 375 million pounds.
Exports totaled 689 million pounds in October, down 9.5 percent from a year ago. During the first ten months of 2013, imports have declined 4.9 percent to 3,970 million pounds while exports are off 4.7 percent to 6,637 million pounds.
Aluminum imports of ingot, scrap and mill products into the U.S. and Canada (excluding cross-border trade) totaled 362 million pounds during October 2013, down 3.3 percent from the October 2012 total of 375 million pounds.
Exports totaled 689 million pounds in October, down 9.5 percent from a year ago. During the first ten months of 2013, imports have declined 4.9 percent to 3,970 million pounds while exports are off 4.7 percent to 6,637 million pounds.
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