Secondary aluminum alloy tags lose ground
Nov 29, 2011 | 05:41 PM
| Sean Davidson
Tags
secondary aluminum alloys,
scrap prices,
scrap ingot,
Nasaac,
LME,
primary aluminum,
Sean Davidson
NEW YORK — Weaker terminal markets hit secondary aluminum alloys this week, while most alloys shed a cent.
Price volatility continued to reign on the London Metal Exchange as the North American special aluminum alloy contract (Nasaac) ended marginally higher on Tuesday vs. Monday. Spot Nasaac closed the official session on the LME at $2,060 per tonne (93.4 cents per pound), up $10 from Monday’s close. However, Tuesday’s cash settlement was about 2 percent lower than levels seen a week earlier, with the contract dropping as much as 4 percent Friday before clawing back this week.....
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