Our Metal Price Trends series provides monthly insight into industry news and economic activity affecting global metal prices, and empowers Metal Supermarkets customers to make timely and informed decisions when purchasing metal.
In November 2014, prices increased in Aluminum and Cold Rolled Steel. While Stainless and Hot Rolled Steel prices remained relatively stable for the month.
The steep drop in crude prices are currently hurting oil-rich provinces like Alberta and Newfoundland, but other provinces like Ontario should see increased demand for auto production, and overall exports.Canada’s oil sector will be under pressure on low prices; but it should do better than other countries like the USA, as its costs are generally lower.
Aluminum – Prices increased for the month of November. The International Aluminum Institute reported that the daily average aluminum production in the world (outside China) declined in October. In many regions, the planned decision on production cutbacks by the mills seems to have been reversed. In Canada, Rio Tinto’s Kitimat smelter has been winding down its older Soederberg-technology potlines prior to firing up newer, expanded capacity next year.
Carbon Steel – Cold Rolled steel increased while Hot Rolled Steel prices remained stable in November. Problems continue for U.S. Steel Canada following its decision to idle its Hamilton coke ovens indefinitely. The company announced last week it would hot-idle its coke battery due to an industry surplus of the material. The company has indicated, in court documents, that it plans to sell its Hamilton and Nanticoke plants by October 2015.
Stainless – Prices remained steady in the month of November. Stainless prices in North America have remained relatively steady; the same situation cannot be said for Europe. Because of this situation, suppliers from that region have been offering considerably lower prices; this situation is creating pressure on domestic pricing.
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