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According to Metal Bulletin, commercial bank analysts have highlighted that the average aluminum price between December 17 and 23, 2012, stood at $2,121 per tonne. However, the outlook for aluminum prices remains bullish, with current levels hovering between $2,007/tonne and $2,012/tonne, with some reports suggesting a rise to $2,055/tonne. Analysts predict that the price could soon reach as high as $2,200/tonne or even $2,204/tonne. If the price of aluminum hits $2,007/tonne, it is expected to push the cost of winged metal down to around $1,931/ton.
In the first 11 months of 2012, global aluminum production increased by 2.5%, reaching 41.272 million tons in the winged metal sector. In November alone, global aluminum output reached 127,700 tons, marking a 0.4% rise compared to the previous month.
According to the International Aluminum Association, global aluminum reserves climbed by 98,000 tons in October 2012, reaching 2.332 million tons. Meanwhile, winged metal reserves declined by 11,000 tons during the same period. These figures suggest growing demand for raw aluminum, while the supply of finished winged metal appears to be under pressure. With continued tightness in the market and rising production costs, the trend toward higher aluminum prices seems likely to continue in the near future.