Aluminum wheels hit by supply glut, LME dip

May 28, 2013 | 02:42 PM | Nathan Laliberte

Tags  aluminum wheels, 356.1, LME prices, aluminum wheels, wheel prices, Nathan Laliberte

NEW YORK — Prices for scrap aluminum wheels have fallen since the start of May as recent downturns on the London Metal Exchange coupled with greater supply have caused the wheel market to "soften slightly," sources say.

Free-market transaction tags for 356.1 wheels are at 86 to 89 cents per pound, down from 87 to 91 cents May 2, traders said.....

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