North American producers have been complaining about slumping aluminum prices due to excess supply and tepid demand. Through April, aluminum ingot was selling on the London Metal Exchange at 62¢/lb. Now comes word that new purchases of aluminum mill products from U.S. and Canadian suppliers actually slipped slightly in April from March levels.

Purchases through April were 7% stronger than January-April of 2001, according to the Aluminum Association, but still 11% weaker than the same four months of 2000. PURCHASING's latest survey of buyers finds barely 50% planning to boost purchasing in coming months.

Since monthly purchasing is volatile and erratic, analysis of buying trends often is subject to wide debate. Example: On a monthly basis, April buys were 10% weaker than March. However, Lloyd T. O'Carroll at BB&T Capital Markets in Richmond, Va., says: "New orders in April were at their highest level since June 2000," and points out that "of the major product types, sheet and plate orders were especially strong, increasing 15% from year-ago April."