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A380.1 tags inch up despite holiday slowdown

Keywords: Tags  aluminum scrap prices, aluminum alloy prices, aluminum ingot prices, London Metal Exchange, LME, Nasaac, Daniel Fitzgerald

NEW YORK — Free-market A380.1 prices tightened up Monday, while most aluminum scrap prices were unchanged as trading activity slowed going into the Thanksgiving holiday break.

Prices for A380.1 narrowed to a range of $1 to $1.01 per pound from 99 cents to $1.01 previously.

Meanwhile, 3105 segregated clips widened to a range of 80 to 82 cents per pound from 80 to 81 cents, and mill-grade painted siding widened to 74 to 76 cents from 74 to 75 cents per pound previously.

The cash North American special aluminum alloy contract (Nasaac) closed the London Metal Exchange’s official session at $1,912 per tonne (86.7 cents per pound) Tuesday, up 2.1 percent from $1,872 per tonne (84.9 cents per pound) Friday.

Participants in both the alloy and scrap markets reported limited activity in advance of the Thanksgiving holiday.

"A lot of people are sitting back to see what happens. Nobody is really chasing material," one broker said. "I am getting glimpses that January looks a whole lot better."

Alloy producers also reported an overall drop in consumer demand. One producer said that some die casters have opted to close operations for the entire week.

However, those in need of material would "probably have to pay a little more," the broker said.

"This time of year, it seems like you get busy with certain guys because they have to fill certain requirements," a second producer said. "There’s no consistency."

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