Aluminum scrap rise squeezes ingot margins
Mar 20, 2012 | 03:51 PM
| Daniel Fitzgerald
NEW YORK Aluminum alloy ingot producers margins are being pressured by a price gain for old cast aluminum scrap, spurred by rising export tags and tight supply.
Old cast gained a penny this week to a range of 76 to 78 cents per pound from 75 to 77 cents previously.
"Were pushing a little bit on cast. The export numbers are in the upper 70s (cent-per-pound range), so we have to match those numbers," according to one scrap dealer, who quoted old cast at 75 to 78 cents per pound on Monday. ....
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