12 SEPTEMBER 2011ZACKS
ALUMINUM SEEN AVERAGING $2,650/TON IN 2012 - GFMS
Edited by : AL CIRCLE
1 min read
Aluminum prices should average $2,650 a metric ton in 2012, up 5% from expectations for this year, an analyst at research consultancy GFMS said Friday.
GFMS, which was acquired by Thomson Reuters Corp. (TRI) last month, projects an average price of $2,525/ton for 2011, its Managing Director Neil Buxton said.
Currently, aluminum is trading at around $2,400/ton, having hit a 2011 high of $2,803/ton in May and a year-to-date low of $2,323/ton in August.
"Aluminum could be set for a possible outperformance against the bulk of the rest of the [base metals] sector," Buxton told a Metal Bulletin conference here. "The market has a relatively flat price profile on an average annual basis, however."
GFMS, which was acquired by Thomson Reuters Corp. (TRI) last month, projects an average price of $2,525/ton for 2011, its Managing Director Neil Buxton said.
Currently, aluminum is trading at around $2,400/ton, having hit a 2011 high of $2,803/ton in May and a year-to-date low of $2,323/ton in August.
"Aluminum could be set for a possible outperformance against the bulk of the rest of the [base metals] sector," Buxton told a Metal Bulletin conference here. "The market has a relatively flat price profile on an average annual basis, however."
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