Aluminum scrap flat; sellers bide time
Mar 08, 2013 | 02:54 PM
| Nathan Laliberte
NEW YORK Prices for most aluminum scrap grades remained steady March 7 as sellers headed for the sidelines in hope of seeing terminal markets recover from recent losses, sources told AMM.
"People are just taking a wait-and-see attitude," one aluminum scrap trader said. "They are hoping for some good news that will move the market back up. All in all, weve had a very quiet week. The market needs a little consolidation."
"Usually when the market drops like this, people are selling like crazy," a second trader said. "I think they are afraid that this thing will come right back up and they will miss the boat." ....
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