NEW YORK Prices for mill-grade aluminum scrap rose April 25 as market participants said that strengthening terminal markets were serving to bolster secondary tags.
Prices for 5052 segregated low-copper alloy clips increased 2 cents to 90 to 92 cents per pound from 88 to 90 cents, 3105 clips rose to 82 to 84 cents per pound from 80 to 82 cents, mill-grade mixed low-copper alloy clips strengthened to 80 to 82 cents per pound from 78 to 80 cents and painted siding increased 3 cents to 77 to 79 cents per pound from 74 to 76 cents previously.
The supply and demand picture has not changed over the past week, one mill-grade seller said. These increases are simply a reaction to movement on the London Metal Exchange.
The cash primary aluminum contract on the London Metal Exchange ended the official session at $1,883 per tonne (85.4 cents per pound) April 25, up 2.3 percent from $1,841 per tonne (83.5 cents per pound) April 22. Prices inched up further Friday, ending the official session at $1,890 per tonne (85.7 cents per pound).
Most secondary aluminum smelter-grade prices also rose April 25, with sources telling AMM that price were being supported by tight scrap flows and solid demand.
Prices for mixed low-copper clips rose to 74 to 76 cents per pound from 73 to 75 cents previously, mixed high-copper clips increased a penny to 73 to 75 cents per pound from 72 to 74 cents, mixed high-zinc clips strengthened to 69 to 70 cents per pound from 68 to 69 cents, mixed clips moved to 73 to 74 cents per pound from 72 to 74 cents, and high-grade turnings and mixed-grade turnings each rose a cent to stand at 72 to 74 cents per pound and 66 to 68 cents per pound, respectively.
US aluminum producers UBC scrap prices also increased to 77 to 79 cents per pound from 75 to 77 cents.
Secondary alloy tags have continued to hold steady, although several sources indicated that if scrap prices continue to strengthen alloys tags will likely follow suit.
Most producers said A380.1 sales remain at $1.04 to $1.05 per pound, but sources said that some producers were skewing the market by selling at $1.03 per pound.
Weve heard there are some people getting rid of material at below-market prices, one alloy producer said. It ends up hurting everyone because the mills expect lower prices all around.
All other major alloys were unchanged, with 319.1 at $1.09 to $1.10 per pound, 356.1 at $1.11 to $1.12, and low-copper A360.1 and A413.1 alloys at $1.09 to $1.11 per pound and $1.10 to $1.11 per pound, respectively.
The LMEs cash North American special aluminum alloy contract (Nasaac) closed the official session at $1,810 per tonne (82.1 cents per pound) April 25, up 3.1 percent from $1,755 per tonne (79.6 cents per pound) April 22. However, the contract lost ground April 26, ending the official session at $ 1,761 per tonne (79.88 cents per pound).