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Aluminium and copper, 2nd quarter 2012 on the fall.

Issued at 2012-09-10



The Study Centre of Aib (Brescia's Industrial Association) has released the data about some of the most important raw materials, largely used also by the manufacturing companies in the province of Brescia.

Copper shows an important decrease in price due to the weak demand on the global market and to the decision of China – the largest consumer in absolute terms – to reduce requirements. At the end of June, the quotations are stable at the minimum levels on a yearly basis thus cancelling all the profits made during the first months of the current financial year. In such a generally uncertain picture, some analysts are still inclined to a rise: despite some estimate adjustments, Société Generale and Goldman Sachs expect for 2012 an average value of about USD 8,000 per ton.

Due to the oil trend, at the end of last month aluminium reached its two-year minimum. The basic outlook is bearish since production exceeds consumption by far, and refined material stocks are high in LME warehouses and in non-official warehouses. The shared feeling is that the market will return to normality through installed capacity curtailments, only.


Source: Bresciaoggi



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