NEW YORK Prices for some
grades of mill-grade aluminum scrap rose March 14 as market
participants noted that a recent recovery in terminal markets
had helped support secondary tags.
Prices for 5052 segregated low
copper alloy clips rose a penny to 91 to 93 cents per pound
from 90 to 92 cents March 11, while 3105 clips increased to 83
to 85 cents per pound from 82 to 84 cents. Meanwhile,
mill-grade mixed low copper alloy clips held steady at 80 to 82
cents per pound, while painted siding inched up to 75 to 76
cents per pound from 74 to 76 cents.
The cash primary aluminum
contract on the London Metal Exchange ended the official
session at $1,944 per tonne (88.2 cents per pound) March 15, up
2.6 percent from $1,895.50 per tonne (86 cents per pound) March
Meanwhile, prices for most
secondary smelters scrap grades were unchanged March 14,
with sources noting that minor fluctuations on the LME
werent enough to induce price adjustments in the
The only secondary grade to show
upward movement March 14 was used beverage cans (UBCs), which
widened to a range of 75 to 77 cents per pound from 75 to 76
The LMEs cash North
American special aluminum alloy contract (Nasaac) recovered to
$1,835 per tonne (83.2 cents per pound) at the close of the
LMEs official session March 15, up 3 percent from the
nearly two-and-a-half-year low of $1,781 per tonne (80.8 cents
per pound) March 11.
Despite Nasaacs upward
movement, some secondary alloy prices fell March 14 as sellers
continued to complain of a growing disconnect between alloy
tags and the published Nasaac price.
"Nasaac is a damn scam. ...
Its unimaginable that the people who produce alloys
dont come out nearly as well as the people who trade
them. ... (Does) something seem wrong with that picture?" one
alloy producer asked.
"We havent been this
disconnected from LME in a very long time," a second alloy
producer said. "Weve been on an opposite pass from Nasaac
for six or seven months now, and its only getting
A380.1 prices tightened to $1.04
to $1.05 per pound from $1.04 to $1.06 per pound, as sources
told AMM that efforts to achieve sales in the $1.06-
to $1.07-per-pound range were largely unsuccessful. In
addition, 319.1 narrowed to $1.09 to $1.10 per pound from $1.09
to $1.11 March 11.
All other major alloy prices
remained unchanged March 14, with 356.1 steady at $1.11 to
$1.12 per pound, and low copper A360.1 and A413.1 alloys at
$1.10 to $1.11 and $1.10 to $1.12 per pound, respectively.
"Trying to get a scrap dealer to
come down on prices when inventories are low is next to
impossible," a third alloy producer said. "Couple that with the
fact that we are being squeezed on the sale side and you can
see why we are struggling to achieve proper margins."
All other secondary scrap grades