NEW YORK Secondary
aluminum prices held steady this past week as smelters reported
limited scrap purchases and ingot sales.
Market participants said that
the week between Christmas and New Years Day is
traditionally light on trade. Only a few buyers reported some
low-volume trading toward the second half of the week, and
prices on those trades remained flat on all grades and are
expected to stay that way until at least Jan. 1, barring any
major moves on the London Metal Exchange.
"I came in today just to catch
up on a few items," a buyer for one secondary aluminum smelter
said Friday. "Our prices remain the same and we are doing
minimal buying, which is fine for now."
A few consumers purchased
healthy volumes the previous week to meet their needs until the
new year, suppliers said. "(We) had a very good buying week.
Wednesdays numbers were good, too," said a second source,
who traded at unchanged prices this past week.
A buyer for another smelter,
however, said that most suppliers also had stepped away from
the market. "I havent gotten one call this week to bid on
anything," he said Friday.
The mostly inactive market left
old sheet prices at 72 to 74 cents per pound and old cast at 74
to 76 cents, unchanged from a week earlier, while nonferrous
automotive shred (twitch) remained at 81 to 83 cents per
Minimal movement in the terminal
markets over the past week also left mill-grade aluminum scrap
prices unchanged. Used beverage cans remained at 79 to 81 cents
per pound picked up, while 5052 segregated clips stayed flat at
94 to 96 cents, sources said.
It also was quiet on the
product-sales side. "No changes from last week due to holiday
slowness," one ingot seller said Friday.
Prices for the benchmark alloy
A380.1 stayed in a range of $1.02 to $1.03 per pound. Sources
said that a few ingot makers were quoting $1.04 to $1.05 per
pound, but no sales were reported at those levels.