Alloys defy expectations of a downcast December
Nov 24, 2009 | 12:25 PM
| Paul Schaffer
Aluminum scrap and the alloys made from it have seen price gains of 1 cent a pound for many grades, dissipating fears of a dreary December.
"The December orders kind of caught us by surprise," said one alloy maker, who had thought his company's scrap purchases were over for the year. He had to change course and make some quick deals.
"December is not as bad as I thought it would be," a smelter executive said. "December is usually terrible. This year people waited until the last minute" to assign December delivery dates to pending orders with flexible time frames. "I don't know about January yet," he added. "Scrap still remains the tail wagging the dog" because its limited availability keeps prices at levels....
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