First Quarter of 2023 in North America Aluminium Wire Prices - Noida

The Aluminium Wire Prices in the US market rose in the first quarter of 2023 due to increased premium costs amid financial market turmoil. Market players noted that this trend began after a series of smelter curtailments last year and was further fueled by sustained supply issues and rising demand expectations surrounding China's return to the market. Market participants claimed that US premiums were rising to attract more metal, and Western market premiums for aluminium ingots also increased due to speculation of rising Chinese demand. However, the collapse of two US banks and market uncertainty contributed to the first drop in the US Midwest aluminium premium since mid-February. Despite this, market players remained unconcerned about oversupply, as downstream demand was in its peak season, and stockpiles of Aluminium Wire had significantly decreased, despite increased domestic supply and imported inflows.

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