Aluminium prices on the rise

Analysts predicted aluminum prices will increase by an average 3.2% in the second half of the year, raising profits for producers of the metal, according to a Bloomberg report. Aluminum prices in April averaged US$0.761 per pound, an increase of 14% from the second half of 2003. Analysts predicted prices of US$0.786 per pound in the second half of 2004. Demand for aluminum is projected to rise 8% this year. Stockpiles have fallen by more than 30%, according to London Metal Exchange data.