Aluminum alloy tags fall on looser scrap supply

May 10, 2013 | 01:34 PM | Nathan Laliberte

Tags  secondary aluminum alloys, alloy prices, scrap prices, aluminum, aluminum scrap, LME, London Metal Exchange, A380.1 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."....

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