Market at odds on twitch price rise
Nov 14, 2011 | 05:12 PM
| Sean Davidson
NEW YORK The secondary aluminum market is divided even as nonferrous auto shred prices jumped 4 cents per pound last week after a big drop in U.S. ferrous scrap tags tightened up the supply of shredded scrap, some market sources said.
While scrap buyers at secondary aluminum alloy plants said other aluminum scrap tags were flat, some nonferrous auto shred pricesalso known as twitchspiked to 83 to 85 cents per pound from a prior range of 79 to 81 cents per pound.
"Twitch at 85 cents a pound has still been hard to get. The secondary aluminum industry is busy. When steel drops and demand for aluminum stays high, this tends to happen," one producer said.....
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