Secondary smelters seeking wider margins in slow mart
Nov 18, 2009 | 11:21 AM
| Paul Schaffer
As secondary aluminum activity approaches a year-end slowdown, smelters are trying to widen their margins on limited new order volumes.
Some alloy marketers quoted 2 cents, and even 3 cents, per pound higher than last week, but acknowledge little volume. "If anybody wants metal, that's what it's going to take. If we don't sell at those numbers we're just not going to sell," one source said.
The higher quotes appear to be gaining traction with A380.1, as spot deals rose to 91 to 92 cents per pound from 89 to 91 cents. Tags for 319.1 rose 1 cent to 94 to 95 cents per pound, while the other alloys held steady.....
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