Aluminum alloys prices shrug off Nasaac drop
Aug 01, 2014 | 05:36 PM
| Sean Davidson
NEW YORK A steady aluminum scrap market will prevent secondary aluminum alloy makers from lowering ingot prices, despite a dramatic drop in terminal exchanges over the past month.
Market participants said they expect that a 9-percent decline in the London Metal Exchanges North American special aluminum alloy contract (Nasaac) cash prices from July 1 to Aug. 1 will have no real impact on free-market prices of A380.1 and other secondary aluminum alloys due to raw material costs.
Nasaac metal and A380.1 alloy have very similar specifications, and despite Nasaac cash prices falling to $2,355.50 per tonne ($1.07 per pound) Aug. 1, down 9.5 cents per pound from July 1, free-market A380.1 tags have slipped just one penny to a range of $1.10 to $1.12 per pound from $1.11 to $1.13 during the same time frame.....
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