Despite a stronger manufacturing outlook, the direction for industrial metal prices continues to languish. Although there have been slight mill price increases, this remains a buyers’ market.
Aluminum – While the chart indicates a continual decline from April through August of 2013, September and October have been relatively stable. North American Aluminum demand is essentially flat on a year-over-year basis while the recycling of Aluminum cans has achieved a twenty year percentage high.
Cold Rolled – A 2% increase in October was the first increase since late spring. Slight mill price increases appear to be holding and could result in more sustained upward momentum.
Hot Rolled – Mill price increase have now resulted in a 2% price increase, the first since March.
Stainless – Currently the weakest of the four product groups, Stainless Steel prices have deteriorated materially. October’s very slight up-tick was offset but October’s weakness. Nickel, a major component and influencer to the cost of stainless, is showing a slight up-tick in price of late but remains weak after its long term declining price trend.
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