Tightening Al scrap flow may lift prices
Dec 08, 2010 | 01:09 PM
| Sean Davidson
Aluminum scrap flows are showing the first signs of tightening as snow arrived in the Midwest and Northeast, industry sources told AMM.
The resultant increase in scrap prices is expected to occur—across the board—late this week or early next week, traders said.
Ingot makers said their decision to move prices up by 2 cents per pound after primary markets went up would also encourage scrap traders to increase prices.
The seasonal reduction in scrap flows is a consequence of mills slowing down production, peddler and street scrap inflows reaching a bare minimum due to cold weather conditions and snow covering scrap in open yards. Tighter flows were expected to start in late November, but the first snow didn't hit until earlier this week.....
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