NEW YORK Most
prices for smelter-grade aluminum scrap fell June 17 as
improved supply and lower exchange prices weighed on the
secondary market, sources said.
The price range for
secondary smelters mixed low-copper clips widened to 72
to 74 cents per pound from 73 to 74 cents on June 13, mixed
high-copper clips weakened to 72 to 73 cents per pound from 72
to 74 cents and painted siding moved to 70 to 72 cents per
pound from 71 to 73 cents. Mixed clips fell to 70 to 72 cents
per pound from 71 to 73 cents and old cast slipped to 70 to 71
cents per pound from 71 to 72 cents.
producers used beverage can (UBC) prices decreased to 72
to 73 cents per pound from 72 to 74 cents.
"As far as secondary
scrap is concerned, we have plenty," one scrap buyer said. "I
dont get how the yards I talk to say that inbound flow is
slow. Automotive is very strong, housing is doing better,
things are improving. Its making me wonder whats
really going on."
The primary aluminum
cash contract on the London Metal Exchange ended the official
session June 17 at $1,789.50 per tonne (81.2 cents per pound),
down 1.3 percent from $1,813 per tonne (82.2 cents per pound)
June 13, although it inched up to $1,795 per tonne (81.4 cents
per pound) June 18.
Prices for mill-grade
scrap also weakened as demand dipped, market participants said.
Prices for 5052 segregated low-copper alloy clips fell to 86 to
88 cents per pound from 87 to 89 cents, 3105 clips slipped to
77 to 79 cents per pound from 78 to 80 cents, mill-grade mixed
low-copper alloy clips decreased to 75 to 77 cents per pound
from 76 to 78 cents and painted siding moved down to 72 to 74
cents per pound from 73 to 75 cents.
Most secondary alloy
tags continued to hold steady June 17; the exception was
A380.1, which weakened to $1.02 to $1.03 per pound from $1.02
Most producers said
that A380.1 sales were down about a penny from last week, with
some noting that a weaker scrap market was starting to take a
toll on alloy prices.
"With the market
dropping, people have been a lot more competitive in terms of
pricing lately," one alloy producer source said. "There are
more people that are exclusively producing 380 these days,
which means they may be trying to get rid of material before
the market drops even more."
Meanwhile, 319.1 held
at $1.07 to $1.09 per pound, 356.1 at $1.10 to $1.11 and
low-copper A360.1 and A413.1 alloys at $1.09 to $1.10 and $1.10
to $1.11, respectively.