Aluminum alloy ingot market said two-tiered

Mar 30, 2012 | 03:53 PM | Daniel Fitzgerald

Tags  aluminum scrap prices, aluminum alloy prices, ingot prices, LME, Nasaac, Daniel Fitzgerald

NEW YORK — Aluminum alloy ingot traders say a "two-tier market" has emerged on A380.1, with some traders refusing to move below $1.11 per pound while weak London Metal Exchange prices prompt others to continue discounting their quotes.

A380.1 sales remained steady Thursday at the $1.09- to $1.11-per-pound level.

The North American special aluminum alloy contract (Nasaac) cash price closed the LME’s official session at $2,130 per tonne (96.6 cents per pound) Friday, down 0.3 percent from $2,135 per tonne (96.8 cents per pound) one week earlier.....

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