Pickup in aluminum scrap exports fails to bolster tags

Dec 02, 2008 | 10:13 AM | Paul Schaffer

U.S exports of smelter-grade aluminum scrap are showing a slight buoyancy, but other segments of the market are stagnant to sagging.

Chinese and South Korean buyers have moved up slightly in their price structure, seeking modest, steady volumes after a period of sitting on their hands, according to one West Coast exporter.

However, current price levels are so low that there is very little material entering or leaving U.S. scrapyards. Also, letters of credit aren't always available to South Korean companies due to stressed-out banks amid the global economic crunch, the exporter said.....

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