NEW YORK Free-market
mill-grade aluminum scrap prices fell a penny Jan. 14 as
aluminum prices on the London Metal Exchange dropped and buyers
sat out of the market.
Prices for 5052 segregated clips
dropped to 96 to 98 cents per pound from 97 to 99 cents, while
mixed low copper clips fell to a range of 81 to 83 cents per
pound from 82 to 84 cents.
Used beverage cans dropped to a
range of 79 to 81 cents per pound picked up from 80 to 82
cents, while mixed high-zinc clips were the sole secondary
grade to move, dropping a penny to a range of 67 to 69 cents
Scrap market participants told
AMM that activity has slowed over the past week, with
some major buyers absent from the market.
"Usually at this time of year,
you were never out of the market. Now, two weeks in Ive
got guys saying that theyre quoting for February," one
seller said. "I think they must not be using as much or
they came into the year heavy on inventory."
LME cash aluminum prices fell to
$2,002.50 per tonne in official trading Jan. 15, down from
$2,077 per tonne Jan. 11.
Many buyers and sellers
continued to report tight scrap flows, with some citing
progressively colder weather.
All secondary alloy grades were
unchanged, with A380.1 steady at $1.02 to $1.04 per pound.
The cash North American special
aluminum alloy contract (Nasaac) traded at $1,815.50 per tonne
(82.3 cents per pound) in the official session Jan. 15, down
4.5 percent from $1,900.50 per tonne (86.2 cents per pound)
One die caster said he bought
Nasaac metal at 98.5 cents per pound, having been quoted
between $1.02 and $1.04 for A380.1 by producers, while one
producer also continued to report sales at $1.05 per pound.
"Same story: no spreads and
scrap is tight," he said. "Cold weather will only slow the flow
Several producers were
experiencing solid demand from automotive consumers, which
emboldened them to pursue higher quotes, they told
However, others said they had
found little success in pushing prices up.
"Its been a little
disappointing. I think well wait it out, I dont
think well sell for less than $1.04," a second producer
"Very few people are getting
$1.04," a third producer said.