NEW YORK Prices for most aluminum scrap grades fell
March 4, with market participants telling AMM that despite a
precipitous drop in terminal markets, continued tightness in
scrap and solid demand continue to support secondary prices.
Prices for 5052 segregated low-copper alloy clips fell to 91 to
93 cents per pound from 92 to 94 cents Feb. 28; 3105 clips
declined to 82 to 84 cents per pound from 83 to 85 cents; the
range on mill-grade mixed low-copper alloy clips widened to 80
to 82 cents per pound from 81 to 82 cents; and painted siding
weakened to 75 to 77 cents per pound from 77 to 78 cents.
The cash primary aluminum contract on the London Metal Exchange
ended the official session March 4 at $1,927 per tonne (87.4
cents per pound), down 1.7 percent from $1,960 per tonne (88.9
cents per pound) Feb. 28 and down 7.3 percent from $2,079 per
tonne (94.3 cents per pound) a month earlier.
The LME is coming down. That is combined with the fact
that things are usually pretty quiet on the first few days of
the month, said one mill-grade scrap buyer. Plus,
steel is looking better right now. Yards that handle ferrous
scrap are going to focus on that for the time being.
Meanwhile, prices for most secondary smelters scrap
grades also decreased March 4, though not as dramatically as
primary tags, sources said.
Prices for mixed low-copper clips fell to 75 to 77 cents per
pound from 77 to 78 cents previously; mixed high-copper clips
weakened to 75 to 76 cents per pound from 76 to 78 cents; mixed
high-zinc clips narrowed to 69 to 70 cents per pound from 69 to
71 cents; 1-1-3 sows moved to 77 to 79 cents per pound from 78
to 80 cents; painted siding fell to 72 to 74 cents per pound
from 73 to 75 cents; mixed clips fell by 2 cents to 72 to 74
cents per pound from 74 to 76 cents; old sheet slipped to 71 to
73 cents per pound from 72 to 74 cents; and old cast widened to
74 to 76 cents per pound from 75 to 76 cents previously.
Aluminum-copper radiators fell to a range of $1.74 to $1.79 per
pound from $1.75 to $1.80, and used beverage cans fell to 74 to
76 cents per pound from 75 to 77 cents.
At these numbers, its almost impossible not to
buythat is, if we can get the material, noted one
The LMEs cash North American special aluminum alloy
contract (Nasaac) plummeted to a six-month low, closing the
official session March 4 at $1,801 per tonne (81.7 cents per
pound), down 2.4 percent from $1,845 per tonne (83.7 cents per
pound) Feb. 28 and down 6.2 percent from 30 days prior.
Despite the overall weakness, a mixed scrap market offered
alloy makers sufficient support to hold on to a $1.04- to
$1.06-per-pound range for sales of A380.1, sources told AMM.
All other major alloy prices remained unchanged March 4 from
their prior levels, with 319.1 trading at between $1.09 and
$1.11 per pound; 356.1 trading in a range of $1.11 to $1.12 per
pound; and low-copper A360.1 and A413.1 alloys in ranges of
$1.10 to $1.11 per pound and $1.10 to $1.12 per pound,
There are times when you walk the linecovering
costs, just kind of getting bybut now is not the
time, an alloy producer told AMM. Demand is still
good, and we need to be profitable at this point.
Volume is still good. We just need to have a little price
discipline, a second alloy producer said.
All other secondary scrap grades were unchanged.