Wild LME drives 'weird' scrap market
Dec 08, 2010 | 06:53 AM
| Sean Davidson
The aluminum scrap market was "weird" Tuesday as buyers tried to handle the wild primary aluminum price swings on the London Metal Exchange.
Smelter scrap prices rose a penny across the board, while tags for mill grade scrap settled between 3 and 4 cents per pound higher than last week—although there were large gyrations during the day as trading patterns mirrored the price of primary aluminum.
LME's three-month primary aluminum contract closed Wednesday's second ring at $2,313 per tonne ($1.0492 per pound), down 1.4 percent from the previous day, when the contract opened the day strong, traded high, dipped low and finally ended the same ring at $2,345.50 per tonne ($1.0639 per pound). That was just $2 shy of its Tuesday opening at $2,347 per tonne.....
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.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here