The Aluminum Association announced that its “Index of Net New Orders of Aluminum Mill Products” recorded an increase of 4.5 percent in January after declining for eight consecutive months. Orders for flat roll products (including can stock and foil) increased 8.0 percent while order receipts for extruded products rose 10.7 percent. Orders for “other” mill products, including drawing stock, electrical conductor and forgings, fell 22.4 percent. Compared to January 2008, new orders were down 26.9 percent from the previous year.
Jim Southwood, President of CRU Risk Management said, “In our last industry survey two weeks ago, extruders reported that January shipments were better than December. With the Aluminum Association reporting that orders were up 11 percent in January over December, it appears February shipments may mark the bottom of the U.S. aluminum demand decline. A quick recovery is not likely, but it is reasonable to expect that business will stabilize.”
Source: The Aluminum Association
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