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Secondary aluminum scrap prices rise

Keywords: Tags  London Metal Exchange, LME, Aluminum scrap, mill-grade aluminum, aluminum, Nasaac, UBC, used beverage cans Nathan Laliberte


NEW YORK — Some free-market secondary aluminum scrap prices increased in step with the London Metal Exchange Jan. 22.
 
Cash primary aluminum prices settled at $2,009 per tonne (91.1 cents per pound) on the LME Jan. 22, up from $2,003.50 per tonne (90.9 cents per pound) Jan. 17.

Prices for some secondary aluminum scrap such as mixed high-zinc clips rose to 69 to 71 cents per pound from 67 to 69 cents previously, while prices for aluminum copper radiators increased to a range of $1.76 to $1.81 per pound from $1.74 to $1.79 previously. The range on mixed clips widened to 74 to 76 cents per pound from 75 to 76 previously.

Meanwhile, all other obsolete grades of aluminum scrap preferred by alloy makers remained unchanged.

Despite LME’s strengthening, used beverage cans (UBCs), which typically trend with terminal markets, remained unchanged at 76 to 78 cents per pound, Mill-grade aluminum scrap prices were also unchanged.

“There doesn’t seem to be a lot of excitement in terminal pricing,” one mill-grade buyer said. “The LME is just kind of hanging around the same range. I think people are waiting to see some movement.”

The cash North American special aluminum alloy contract (Nasaac) on the LME traded at $1,840 per tonne (83.5 cents per pound) Jan. 22, down from $1,850 per tonne (83.9 cents per pound) Jan. 17.

Despite the weakening on the Nasaac, prices for A380.1 remained unchanged at $1.02 to $1.04 per pound, according to market sources.

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