Aluminum wheel prices holding above LME

Jul 27, 2012 | 02:32 PM | Daniel Fitzgerald

Tags  aluminum wheels, 356 alloy, LME, daniel fitzgerald

NEW YORK — Secondary aluminum wheels refuse to budge from a free-market price point well above the cost of primary aluminum on the London Metal Exchange, with strong competition for the item keeping prices high.

Scrap traders continue to put aluminum wheels in a range of 86 to 88 cents per pound, even though the LME cash price ended Friday’s official session at $1,860 per tonne (84.4 cents per pound). Aluminum wheel prices remained unchanged....

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