Scrap aluminum wheel prices hold firm

Aug 10, 2012 | 01:18 PM | Daniel Fitzgerald

Tags  scrap, aluminum wheels, 356.1 alloy, aluminum, automotive, Daniel Fitzgerald

NEW YORK — Scrap aluminum wheel prices may increase moving into September as the automotive industry begins to ramp up inventories for the 356.1 alloy, with spot prices currently holding firm.

Traders continued to put the price of scrap wheels at 86 to 88 cents per pound Friday, still well above the London Metal Exchange’s closing aluminum cash price of $1,835 per tonne (83.2 cents per pound).....

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