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 October 2014, prices increased in Aluminum, but decreased in Hot Rolled Steel, Cold Rolled Steel, and Stainless Steel.
The Canadian manufacturing sector showed a marked improvement in October. Order volumes increased at a rate not seen since one year ago. Production levels increased and companies further increased their payrolls.
Aluminum – Prices were increased for the month of October. Aluminum prices have rebounded recently due to smelting capacity cuts that were put into place as a response to low prices. With the market prices now firming up, global smelting capacity is starting to increase. While it is anticipated that there will be an Aluminum shortage going into 2015, these planned production increases should lower or eliminate the extent of the deficit. Something that should be considered is the Chinese economic conditions which influence aluminum prices to an extent, and with the slowing Chinese growth, it is unlikely there would be a significant increase in aluminum prices in the near future.
Carbon Steel – Cold Rolled steel and Hot Rolled steel prices declined during October. The Canadian mills have reported stronger order bookings into October. The market is showing increases in the automotive and energy sectors. A weakening of prices is expected in December, in light of cheaper imports that are expected to arrive before the close of the Great Lakes navigation. It is anticipated that the domestic mills will take steps to shore up their pricing position.
Stainless – Prices decreased in the month of October. Stainless prices in North America have remained relatively steady while customer confidence has improved. The same cannot be said for Europe. Suppliers from this region have been offering considerably lower prices, which in turn has placed pressure on the domestic mill pricing. This situation will only continue if the Great Lakes navigation remains open.
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