Mill-grade aluminum scrap prices fall

Apr 23, 2013 | 01:24 PM | Nathan Laliberte

Tags  LME, Nasaac, Comex, mill-grade aluminum, aluminum scrap, A380.1, aluminum, Nathan Laliberte

NEW YORK — Prices for mill-grade aluminum scrap fell April 22 due to a decline in tags on the London Metal Exchange.

Prices for 5052 segregated low-copper alloy clips fell to 88 to 90 cents per pound from 89 to 91 cents, 3105 clips declined to 80 to 82 cents per pound from 81 to 83 cents, mill-grade mixed low-copper alloy clips fell a penny to 78 to 80 cents per pound from 79 to 81 cents and painted siding narrowed to 74 to 76 cents per pound from 75 to 77 cents previously.

But sources indicated that continued tightness in scrap and strong demand has prevented tags from weakening to the same extent as the decline in terminal markets.

"I think mills are going to have to start getting creative with what they buy, because a lot of the grades they use are just not that available," one mill-grade seller said. "There has been a recent push on painted siding from the major mills, largely because it’s a desirable component for their product mixes. With things as tight as they are, I think they are going to have to look for an alternative; maybe a mixture of good mixed low-copper clips and used beverage cans (UBCs)." ....

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