Steel Products Prices North America
October 23, 2022
CRU Aluminum: Seasonal Reporting Winds Turn Colder
Written by Stephen Williamson
With September’s quarter close comes the wave of corporate analysts’ reports. Several were released this week, and all warn of challenging times ahead. Demand and prices are falling, as costs are rising, leaving the aluminum value chain scissored in the near term.
As context for these results, CRU has refreshed June’s base economic forecast and sets the stage for these earnings results and forward-looking statements. US GDP has been adjusted lower for the balance of 2022, with full-year GDP revised from to 2.42% to 1.69%. Looking ahead to 2023, the GDP forecast was revised lower still, from 1.95% to near zero growth for the year ahead.
