NEW YORK Free-market
mill-grade aluminum scrap prices increased Thursday as the
London Metal Exchange recovered from its Monday plunge,
although some scrap buyers reported difficulty in obtaining
material due to tight flows.
Prices for 3105 segregated clips
rose to 85 to 86 cents per pound from 82 to 84 cents, while
mixed low-copper clips increased to 82 to 84 cents from 79 to
Aluminum-copper radiators are
now at $1.74 to $1.79 per pound, up from $1.71 to $1.76
previously, while 1-1-3 sows moved up to a range of 79 to 81
cents per pound from 78 to 80 cents.
The price for A319.1 alloy rose
to $1.08 to $1.09 per pound from $1.07 to $1.09, while A380.1
was unchanged at $1.02 to $1.04 per pound.
The cash North American special
aluminum alloy contract (Nasaac) closed the LMEs official
session at $1,900.50 per tonne (86.2 cents per pound) Friday,
up 3.3 percent from Tuesdays close at $1,840 per tonne
(83.5 cents per pound).
Prices were largely steady, much
as they were during a plunge in LME pricing on Monday (
amm.com, Jan. 8), secondary scrap market
"All the prices stayed the same
through all of that. All that happened was that things slowed
down on the day of the big drop," one scrap buyer said.
Many buyers reported that scrap
flows were tightening, with some unsure if it was part of a
seasonal slowdown during the onset of winter.
"Everybody is scratching their
heads. Usually for this time of year youd say its a
weather issue, but this year its not," one trader
However, "theres metal
moving and were buying what we need. Of course wed
always like there to be better flow. I actually think flow is
halfway decent for the time of year that it is," a second scrap
buyer said. "When the LME dropped, metal dried up. But
thats not an issue of flow; thats dealers waiting
for a higher price. That activity has been increasing as the
LME has come back up."
Meanwhile, one die caster said
he had bought spot A380.1 at $1.02 per pound, having been
quoted $1.03 per pound by the majority of producers. But one
alloy producer continued to report truckload sales at $1.05 per
"We kinda wiped out our margin
at $1.03, and were struggling to get $1.04," a second
alloy producer said.