U.S. May aluminum imports surge to near 2-year peak

Wednesday, Jul 13, 2011
点击:

NEW YORK, July 12- Shipments of aluminum into the United States rose for a second straight month in May, spiking to a near two-year peak, as a growing domestic market deficit and improved demand conditions drove the builds.


Data from the U.S. International Trade Commission on Tuesday showed May aluminum imports surge to 160,847 tonnes, up more than 50 percent from April to stand at their highest level since July 2009, when imports reached 189,671 tonnes.


"As we know there is supply tightness in the U.S. and that has caused premiums to increase considerably," said Jorge Vazquez, founder and senior vice president with Harbor Intelligence.


The U.S. Midwest spot aluminum premium paid above the London Metal Exchange (LME) cash price CMAL0 rallied to a record peak at 9.5 cents per lb in May of this year, as lengthy load-out rates at the exchange-monitored warehouses, especially in Detroit, continued to choke off supply flows.


"The market has reacted to those incentives by shipping more semi-finished aluminum to the U.S." Vazquez said.


The increase in U.S. imports comes at a time when demand from aluminum-intensive industries is on the rise.


Alcoa Inc (AA.N), America's biggest aluminum producer, expected demand growth for the lightweight metal to continue to grow, especially from the aerospace sector.


"Although the economic recovery is uneven, the overall outlook for Alcoa -- and for aluminum -- remains positive," Alcoa's Chief Executive Officer Klaus Kleinfeld said on a conference call with analysts following the company's second quarter results.


"The aerospace sector has positive momentum and we expect 7 percent aluminum sales growth globally this year."Demand was also seen picking up from the automotive sector, which accounts for about 25 percent of U.S. aluminum demand.


Automakers reported a 7.1 percent sales increase in June from a year earlier, with a seasonally adjusted annualized rate of sales reaching 11.45 million vehicles.


"The combination of the increased demand in the U.S., supply tightness and the record-high premiums, without doubt, explain the bulk of the increase in imports," Harbor's Vazquez said.

Recommended exhibitions

16TH ARAB INTERNATIONAL ALUMINIUM CONFERENCE
  ARABAL, which is being organized and hosted by Qatalum, is the premier trade event for the Middle East's aluminium i......
Aluminium 2012
  ALUMINIUM is the leading B2B platform in the world for the aluminium industry and its main applications. This is whe......
The 4th edition of Zak Aluminum Extrusions Expo
 Date

  14th - 16th December 2012

  Venue

  Pragati Maidan,

  New Delhi,India.

  Exhibition Timings

 ......
ALUMINIUM DUBAI 2011
Name:ALUMINIUM DUBAI 2011
Time:2011-5-9 to 2011-5-11
Place:Dubai International Convention & Exhibition Centre, Dubai, UAE......