Aluminum scrap prices jump again as dealers pull out of market
Dec 21, 2010 | 12:44 PM
|
Aluminum scrap tags continued to trek higher this week after some dealers pulled away from the market and buyers were forced to be more competitive on prices.
Smelter and mill grade scrap logged between 1- and 5-cent gains this week. Old sheet prices were particularly buoyant amid talk that an ingot maker supplying a large automotive company was in the market, offering to pay as much as 78 cents per pound, some 4 cents higher than the going price. Old sheet and cast prices were between 72 and 76 cents per pound this week, up from 71 to 74 cents last week.
An ingot maker source told AMM he had quoted higher because his company allows only 2-percent contamination of the material vs. the general industry's acceptance of 4- to 5-percent contamination, although no one was willing to sell even at that price.....
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