In June 2014, prices remained stable for Aluminum, Cold Rolled decreased while Hot Rolled Steel and Stainless Steel prices exhibited increases.
The Canadian manufacturing market sector improved in June to its highest level this year so far, helped by acceleration in output and new orders. Looking forward, Canada’s near term economic prospects are encouraging due to the U.S economic recovery. An important caveat is the Canadian dollar continues to show unexpected strength; this could dampen the export dependant manufacturing sector.
Aluminum – Prices were unchanged in the month of June. The U.S Aluminum producer Alcoa expects demand to outpace supply this year. However, the forecast must be considered against significant Aluminum stockpiles around the world. These stockpiles have kept global market prices in this product subdued over recent years.
Carbon Steel – Hot Rolled steel prices increased while Cold Rolled Steel prices decreased during June. There are many mixed signals in the market right now, with the mills announcing price increases, and then later retracting them. Experts predict that while prices will fluctuate they expect general consistency throughout the year. With the Chinese economy slowing and with a 25 per cent drop in new construction starts in that country’s property sector in the first quarter of this year, the mills have taken steps to reduce overall production.
Stainless – Prices increased further during June. Global prices have been going through a transitional stage. In June transaction prices were pulled in many directions by various areas of the market. After continuously rising since the beginning of the year, nickel prices have peaked and fallen back slightly. The effects of this are felt differently around the world as some markets that employ an alloy surcharge system based on the previous month’s raw material costs and others use selling values.
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