Rise in aluminum scrap demand buoys prices

Jan 07, 2014 | 03:49 PM | Nathan Laliberte

Tags  aluminum scrap, LME, Midwest premium, scrap prices, aluminum prices, primary aluminum, aluminum premium, Nathan Laliberte

NEW YORK — Prices for most grades of secondary aluminum smelters’ scrap moved higher Jan. 6 as an increase in post-holiday demand coupled with a slight decrease in supply helped buoy the market, participants told AMM.

The drop in supply was largely attributed to the bitterly cold weather across much of the country.

The price uptick ran counter to recent declines on the London Metal Exchange, where the cash primary aluminum contract ended the official session Jan. 6 at $1,717.50 per tonne (77.9 cents per pound), down 2.2 percent from $1,755.50 per tonne (79.6 cents per pound) Jan 2. The contract recovered slightly Jan. 7, closing the official session at....

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