Aluminum scrap prices slide with LME

Mar 05, 2013 | 03:47 PM |

Tags  aluminum scrap, LME, Nasaac, A380.1, UBCs, Nathan Laliberte

NEW YORK — Prices for most aluminum scrap grades fell March 4, with market participants telling AMM that despite a precipitous drop in terminal markets, continued tightness in scrap and solid demand continue to support secondary prices.

Prices for 5052 segregated low-copper alloy clips fell to 91 to 93 cents per pound from 92 to 94 cents Feb. 28; 3105 clips declined to 82 to 84 cents per pound from 83 to 85 cents; the range on mill-grade mixed low-copper alloy clips widened to 80 to 82 cents per pound from 81 to 82 cents; and painted siding weakened to 75 to 77 cents per pound from 77 to 78 cents.
The cash primary aluminum contract on the London Metal Exchange ended the official session March 4 at $1,927 per tonne (87.4 cents per pound), down 1.7 percent from $1,960 per tonne (88.9 cents per pound) Feb. 28 and down 7.3 percent from $2,079 per tonne (94.3 cents per pound) a month earlier. ....