Aluminum scrap flat; sellers bide time

Mar 08, 2013 | 02:54 PM | Nathan Laliberte

Tags  aluminum scrap, London Metal Exchange, LME, Nasaac, A380.1, used beverage cans, 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, we’ve 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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