Smelter grades of aluminum scrap not keeping pace with soaring LME

Dec 09, 2005 | 06:31 AM | Paul Schaffer

Smelter-grade aluminum scrap is up 2 to 3 cents a pound in the past month, a disappointing magnitude for scrapyard managers watching aluminum's takeoff on the London Metal Exchange.

"Scrap sellers don't like selling into a wide spread," one market participant said. "But I don't see the spread tightening. There's no shortage of scrap."

The LME's exuberance in the past month has boosted the North American special aluminum alloy contract (Nasaac) by 9 cents a pound, almost as much as the 11-cent increase by primary aluminum.....

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