Alloy steels can be divided into four classes: structural steels, magnetic alloys, tool and die steels, and stainless and heat-resisting steels. Metals are an integral part of the construction industry: the four most common metals used across the construction sector are; carbon steel, stainless steel, aluminum, and copper.
Copper and aluminum alloys are great for a wide range of construction usages, as well as various other industry utilizations. Though copper and aluminum alloys are essential, metal stocks have been fluctuating on a global scale.
According to Reuters, copper prices have remained steady, while aluminum prices have fallen.
Copper prices held steady in late October as China, the world’s biggest metals consumer, has recently seen solid economic growth. Conversely, aluminum fell after multiple days of large inflows of metal into warehouses across the London Metal Exchange.
“For copper, on the macro side, the Chinese date was slightly better than expected, so that’s a positive,” said Nick Snowdon, an analyst at Deutsche Bank. “But on the physical side, [there are] slightly softer signals in terms of Chinese import demand in the near term.”
Copper has been steady between $6,100 and $6,350 since September. Though fears that a U.S.-China trade dispute would weaken demand and lead to significant lows across the market. Additionally, since copper is primarily used in the power and construction sector, after Beijing’s latest round of anti-smog production cuts could further limit consecution activity in the current quarter.
According to Financial Express, aluminum prices rose 0.5% to $2,010 a ton, which is a positive sign — but not far above six-month lows that were reached in mid-October.
It’s important to note that copper and aluminum alloys are specific to Diversified Metals and are specialized for various uses and often very difficult to find elsewhere. As the metals industry continues to fluctuate, the need for strong, durable, and quality materials will certainly remain in industries across the U.S. and the entire globe. The metal market: Copper and aluminum stock outlook.
If you want to learn more about stainless steel products, stainless steel grades, and various other types of alloys, give Wieland Diversified a call right away.