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North American aluminum premiums to hit record high in first quarter
Edited by : AL CIRCLE
1 min read
Harbor Intelligence looks for North American aluminum premiums to hit record highs in the first quarter and for the market to be in a supply deficit in 2013.
The aluminum-analysis firm says there is the risk of potential primary aluminum output disruptions in Canada since no agreement has been reached yet between management and the union at the Aluminerie de Becancour (ABI) smelter in Quebec. "Even without any disruptions in the region, we have expected premiums in North America to reach fresh highs as soon as Q1 2013," Harbor says. "An eventual strike or lockout at ABI would only accelerate this process as it could represent a serious hit to aluminum billet supply in North America."
Meanwhile, Harbor cites news that Ma'aden confirmed that delays with its electricity plant project in Ras Al Khair, Saudi Arabia, will mean a slowdown in scheduled ramp-up to reach the designed capacity of a primary aluminum smelter set to begin production next month. Harbor says its now a market deficit of 896,000 metric tons outside of China in 2013, with an 861,000-ton global deficit.
The aluminum-analysis firm says there is the risk of potential primary aluminum output disruptions in Canada since no agreement has been reached yet between management and the union at the Aluminerie de Becancour (ABI) smelter in Quebec. "Even without any disruptions in the region, we have expected premiums in North America to reach fresh highs as soon as Q1 2013," Harbor says. "An eventual strike or lockout at ABI would only accelerate this process as it could represent a serious hit to aluminum billet supply in North America."
Meanwhile, Harbor cites news that Ma'aden confirmed that delays with its electricity plant project in Ras Al Khair, Saudi Arabia, will mean a slowdown in scheduled ramp-up to reach the designed capacity of a primary aluminum smelter set to begin production next month. Harbor says its now a market deficit of 896,000 metric tons outside of China in 2013, with an 861,000-ton global deficit.
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