NEW YORK Free-market
mill-grade aluminum scrap prices rose again Thursday as buyers
continue to enter and exit the market to control inventory
levels for the remainder of 2012.
Prices for 3105 segregated clips
rose to a range of 80 to 81 cents per pound from 79 to 81
cents, while mixed low-copper clips moved up to a range of 78
to 80 cents per pound from 77 to 79 cents previously.
Aluminum used beverage cans
increased to a range of 74 to 75 cents per pound from 73 to 75
cents, while aluminum-copper radiators moved up to $1.68 to
$1.73 per pound from a range of $1.65 to $1.70 per pound.
A360.1 and A413.1 also both
moved into tighter ranges of $1.07 to $1.08 per pound from
$1.06 to $1.08 previously, while A380.1 remained unchanged at
99 cents to $1.01 per pound.
The cash North American special
aluminum alloy contract (Nasaac) closed the London Metal
Exchanges official session at $1,872 per tonne (84.9
cents) Friday, down 0.7 percent from Tuesdays close at
$1,886 per tonne (85.5 cents per pound).
One mill-grade scrap buyer
reduced its quotes on Thursday as "most of our needs are
covered for the rest of the year," the buyer said.
"Were buying at a level
that Im comfortable with. Were close to the end of
the year and dont want to have huge inventory," another
secondary scrap buyer told AMM.
"Weve been getting calls
from all kinds of people reaching for metal. So theres
demand there, but the prices werent all that
sensational," a scrap seller added.
Meanwhile, market participants
also forecast scrap shortages in December due to sustained
alloy demand from the automotive sector.
"Typically, there is a lull in
scrap buying followed by a lull in production from the
smelters. We dont expect thats going to happen; we
think everybody is probably slightly overbooked for December.
So theres not going to be as much scrap as there normally
is in December," a third scrap buyer said.
However, "the consensus is that
numbers will be easing in the first quarter of 2013. With the
fiscal cliff scenario, people may tighten their belts a bit,"
one broker added.