NEW YORK Mill-grade
aluminum scrap prices slipped Jan. 28 in step with the London
Metal Exchange, with market participants noting limited
activity on worsening margins.
Prices for 5052 segregated
low-copper alloy clips were in a range of 94 to 96 cents per
pound, down from 95 to 97 cents Jan. 24, while 3105 clips
dipped to 83 to 85 cents per pound from 84 to 86 cents.
Mill-grade mixed low-copper
clips fell to a range of 81 to 83 cents per pound from 82 to 84
cents, while painted siding weakened to 76 to 78 cents per
pound from 77 to 79 cents.
"Our products have to be
affordable," one mill-grade scrap seller said. "Higher prices
will put buyers right out of this market."
"Its been pretty quiet,"
another mill-grade seller said. "Things seem to be trending
closely with the LME. People are just waiting to see what
Cash primary aluminum ended the
LME official session at $2,006.50 per tonne (91 cents per
pound) Jan. 28, down 1 percent from $2,027 per tonne (91.9
cents per pound) Jan. 24.
"Everybody is fighting for scrap
right now," a third mill-grade seller said. "One guy selling
cheap can bring the whole market down. Blowing people out of
the water is not the way to do things."
Secondary aluminum scrap grades
were unchanged except for mixed high-copper clips, which
widened to a range of 75 to 77 cents per pound from 76 to 77
cents. Used beverage cans (UBCs) remained steady at 77 to 79
cents per pound.
The LME cash North American
special aluminum alloy contract (Nasaac) fell for the fourth
consecutive day, ending the official session at $1,841 per
tonne (83.5 cents per pound) Jan. 28, down 1.5 percent from
$1,869 per tonne (84.8 cents per pound) Jan. 24.
Prices for A380.1 stayed steady
at $1.02 to $1.04 per pound, with some sellers indicating a
need to push for higher prices.
"Scrap values have not come off
and we can no longer work on these undesirable spreads," said
one seller of secondary aluminum alloy.
All other secondary aluminum
scrap grades also were unchanged.