Aluminum alloy tags fall on looser scrap supply
May 10, 2013 | 01:34 PM
| Nathan Laliberte
NEW YORK Secondary aluminum alloy prices dipped May 9, with a slight loosening of scrap supply allowing producers to acquire raw materials at more attractive levels.
"We have definitely been able to get scrap a little cheaper this (past) week," one alloy producer said. "Some people seem really aggressive to sell."
Prices for A380.1, which held steady for nearly a month, widened to $1.03 to $1.05 per pound from $1.04 to $1.05 previously.
"We have been hearing rumblings that the Chinese are reducing their consumption of scrap," a second producer said, adding that a prolonged reduction in Chinese purchasing could improve the domestic supply picture. "We are buying at lower prices. ... Hopefully, the trend will continue."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.