Tight supply sustains aluminum scrap prices
Apr 03, 2012 | 03:18 PM
| Daniel Fitzgerald
NEW YORK Free-market aluminum scrap prices have remained largely stable, with tight supply continuing to offset anxiety caused by falling London Metal Exchange prices.
Old sheet remains unchanged at 73 to 75 cents per pound, and A380.1 continues to trade predominantly between $1.09 and $1.11 per pound.
The North American special aluminum alloy contract (Nasaac) cash price closed the LMEs official session at $2,076 per tonne (94.2 cents per pound) Tuesday, down 2.5 percent from $2,130 per tonne (96.6 cents per pound) on Friday and 9.9 percent below the price of $2,305 per tonne ($1.05 per pound) recorded on March 2.....
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