According to a recent Metal Miner article, 2012 US Metal Markets are looking promising despite recent media “concerns” broadcasted in Q4 2011. Quoting Tim Hayes, an analyst for Davenport and Company’s global market and domestic economies, media reports have discolored the outlook for future growth; and contrary to their reports, there will be growth in the following US markets: industrial production, factory output and construction. These changes are welcomed improvements, as they an US upswing has not been the rule in recent years.
“Aluminum Association’s Nick Adams said that the US is now “essentially” a net exporter, which hasn’t happened in a long time.” Adams was also quoted in a statement suggesting the US markets will benefit in 2012 due to higher than usual export demand.
“The huge growth in export numbers for extrusion markets” is notable, up nearly 38 percent in 2011 to date. For the same period, US and Canada aluminum exports overall, less cross-border trade is up 22.5 percent, whereas imports are up by only 4.8 percent.”
While the article cites reasons for continued research and possibly even speculation regarding the 2012 Global Market Outlook- it concluded with the remarks of specialists Adams and Hayes- both of whom advocated for the growth of the US Market by 10 percent next year.
CLICK HERE to read the article and learn more about this upswing in US aluminum exports.