NEW YORK Slowing demand
and lower scrap prices could bring secondary aluminum alloy
prices down in the coming weeks, according to market
"Its been pretty weak in
terms of demand going into June and July," one alloy producer
source said May 16. "We saw prices come off a little last week,
but things have been pretty flat this week."
Prices for A380.1 remained at
$1.03 to $1.04 per pound May 16, with one producer source
telling AMM that he had made sales in a range of $1.02
to $1.03. Alloy 319.1 was steady at $1.08 to $1.09 per pound
and 356.1 remained at $1.10 to $1.11, while A360.1 and A413.1
were unchanged at $1.09 to $1.10 per pound.
The cash primary aluminum
contract on the London Metal Exchange ended the May 16 official
session at $1,802.50 per tonne (81.8 cents per pound), down 1.4
percent from $1,827.50 per tonne (82.9 cents per pound) May 13.
But prices edged higher May 17 to end the week at $1,840.50 per
tonne (83.5 cents per pound).
Despite the LME fluctuations,
most grades of secondary smelters aluminum held steady
May 16. The only grade to register a price change was old cast,
which slipped to 71 to 73 cents per pound from 72 to 74 cents
Prices for mill-grade aluminum
scrap were unchanged May 16, with market participants
indicating that sellers had done a majority of their
transactions the previous week and were now waiting for
near-term bumps on the LME.