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.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.