Free Aluminium Wire Prices Trend and Forecast New York
- Location: New York, New York, NY, United States
In the North American market, Aluminium Wire prices showcased a rising trend despite subdued spot demand during the third quarter of 2022. Aluminium marched higher in August and September, worrying that stoppages due to high energy prices or other disruptions would spur shortages. Due to the high energy intensity of base metal production, market participants are observing production reductions in Europe. Market participants are in a position where they don't need to push from consumption to get price hikes because more cuts are on the way; Europe's energy crisis is far from over. Furthermore, since energy prices began to rise last year, European smelters have reduced annual Aluminium production by 800,000 to 900,000 tonnes. According to the buyer, upstream Aluminium prices are close to bottoming out. However, secondary Aluminium alloy manufacturers who buy primary Aluminium report that the cost of Aluminium products has fallen due to a general decline in the US Aluminium market.
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