12 SEPTEMBER 2011Metal Bulletin
MB ALUMINIUM CONF: US,Europe double-dip likely, Bhar says
Edited by : AL CIRCLE
1 min read
The United States and Europe likely will face another economic downturn that could have an adverse affect on aluminum, analysts agreed at Metal Bulletin’s 26th International Aluminium Conference in Paris, although rising global demand and warehousing deals could temper some of that potential downside.
"We are faced with a double-dip recession in the U.S. and Europe," Robin Bhar, metals strategist at Credit Agricole CIB, told the conference Friday. "On the face of that, negative prices would appear to be (the result)."
But that downward pressure on aluminum prices might not be as severe as some fear, largely due to the financing deals that are keeping metal tied up in London Metal Exchange-approved warehouses, Bhar said.
"We are faced with a double-dip recession in the U.S. and Europe," Robin Bhar, metals strategist at Credit Agricole CIB, told the conference Friday. "On the face of that, negative prices would appear to be (the result)."
But that downward pressure on aluminum prices might not be as severe as some fear, largely due to the financing deals that are keeping metal tied up in London Metal Exchange-approved warehouses, Bhar said.
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