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Stable-Higher Aluminum Expected From Participants, Delegates At Conference
Edited by : AL CIRCLE
1 min read
Analysts and delegates attending an aluminum conference in Chicago this week look for stable to higher prices and premiums next year.
A series of speakers at Harbor Intelligence’s Annual Aluminum Outlook Conference spoke on topics such as improving demand helped by the auto and commercial aircraft sectors, as well as substitution of aluminum for more expensive copper. The U.S. itself has an aluminum-market deficit, which should boost the widely followed Midwest premium, a Harbor analyst told the gathering.
Some 210 registered delegates are attending the conference. Late Tuesday morning, a survey of participants showed that 75% expect relatively stable London Metal Exchange prices averaging $2,400 to $2,600 a metric ton in 2012. Fifty-eight percent anticipated the regional premium they pay will increase next year.
Jorge Vazquez, founder and manager of Harbor Intelligence, was more upbeat, saying he envisions a three-year uptrend with prices “north of $3,000 from 2012 on.” This translates to around $1.35 a pound.
A series of speakers at Harbor Intelligence’s Annual Aluminum Outlook Conference spoke on topics such as improving demand helped by the auto and commercial aircraft sectors, as well as substitution of aluminum for more expensive copper. The U.S. itself has an aluminum-market deficit, which should boost the widely followed Midwest premium, a Harbor analyst told the gathering.
Some 210 registered delegates are attending the conference. Late Tuesday morning, a survey of participants showed that 75% expect relatively stable London Metal Exchange prices averaging $2,400 to $2,600 a metric ton in 2012. Fifty-eight percent anticipated the regional premium they pay will increase next year.
Jorge Vazquez, founder and manager of Harbor Intelligence, was more upbeat, saying he envisions a three-year uptrend with prices “north of $3,000 from 2012 on.” This translates to around $1.35 a pound.
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