Aluminum has slowly and quietly regained some of the price strength it closed out 2014 with, but that might not be enough to pull the light metal out of this bear market.
The monthly Aluminum MMI® registered a value of 88 in April, an increase of 1.1% from 87 in March.
The Strongest of A Weak Metals Field
Aluminum prices remained rangebound in March. Compared to the rest of base metals, though, aluminum is holding its price very well. Indeed, aluminum and zinc are the only metals that haven't made multi-year lows yet in 2015. Demand growth in the automotive and aerospace sectors has helped the metal to hold onto its value.
Aluminum lost most of its gains in the second half of 2014. In Q1 2015, prices remained rangebound as oil prices stabilized and the dollar caught a breath. What should we expect for the rest of the year?