MetalMiner
Aluminum Price Index Held Steady in 2012
Edited by : AL CIRCLE
1 min read
The January Aluminum MMI held steady this past month at 99.
Prices for nearly every aluminum element contained in the monthly aluminum price index held constant, and movements were limited to a very tight range.
“The Aluminum MMI has held up strongly since the start of 2012, slipping only one point from a year ago,” said Lisa Reisman, managing editor of MetalMiner, “despite the LME warehouse finance games playing out over the course of this year with available stocks declining [see chart below], aluminum remains in stable supply.”
The largest US aluminum producer Alcoa announced fourth quarter results earlier this week, and indicated aluminum demand should grow by 7 percent for 2013 while secondary aluminum products (e.g. semi’s) continue to provide strength for Alcoa’s earnings (over primary products).
The price of European 5083 plate increased 2.8 percent.
After rising 9.9 percent the previous month, aluminum 3-month prices dropped 0.4 percent on the LME to $2,071 per metric ton.
Chinese aluminum bar experienced nearly a flat month, dropping 0.1 percent. Chinese aluminum billet dropped 0.8 percent last month, and Chinese aluminum scrap dropped 0.9 percent.
Prices for nearly every aluminum element contained in the monthly aluminum price index held constant, and movements were limited to a very tight range.
“The Aluminum MMI has held up strongly since the start of 2012, slipping only one point from a year ago,” said Lisa Reisman, managing editor of MetalMiner, “despite the LME warehouse finance games playing out over the course of this year with available stocks declining [see chart below], aluminum remains in stable supply.”
The largest US aluminum producer Alcoa announced fourth quarter results earlier this week, and indicated aluminum demand should grow by 7 percent for 2013 while secondary aluminum products (e.g. semi’s) continue to provide strength for Alcoa’s earnings (over primary products).
The price of European 5083 plate increased 2.8 percent.
After rising 9.9 percent the previous month, aluminum 3-month prices dropped 0.4 percent on the LME to $2,071 per metric ton.
Chinese aluminum bar experienced nearly a flat month, dropping 0.1 percent. Chinese aluminum billet dropped 0.8 percent last month, and Chinese aluminum scrap dropped 0.9 percent.
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