Aluminum scrap sellers hold as LME rises

Sep 12, 2012 | 12:15 PM | Daniel Fitzgerald

Tags  aluminum scrap, London Metal Exchange, LME, Daniel Fitzgerald

CHICAGO — Aluminum scrap buyers are still encountering resistance from scrap dealers in securing material, with many sellers now believed to be waiting for London Metal Exchange prices to move closer to $2,200 per tonne.

Buyers have reported over the past few months that many dealers have held on to swathes of scrap material while waiting for rising LME prices to support higher free-market prices.....

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