Secondary alloy prices hold ground
Mar 19, 2013 | 04:18 PM
NEW YORK Strong demand from the auto and housing sectors has kept secondary aluminum values on the raw material and finished product side afloat despite continuing weakness in terminal markets.
A 2-cent-per-pound swing in primary aluminum prices on the London Metal Exchange had little impact on obsolete aluminum scrap consumed by alloy makers, who in turn fought to keep alloy prices unchanged.
A weaker LME has had minimal impact on scrap prices over the past few weeks as obsolete scrap flows remain tight due to cold weather conditions and weaker pricing in many parts of the country, market participants said.
Most alloy makers said A380.1 alloy continued to trade at $1.04 to $1.05 per pound March 18, unchanged from March 14, although at least two sources reported numbers that were up to a penny per pound higher.....
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