NEW YORK Most prices for smelter-grade aluminum scrap
increased July 11, supported by strong demand and upward
movement on the London Metal Exchange.
Prices for secondary smelters mixed low-copper clips
strengthened to 71 to 73 cents per pound from 70 to 72 cents at
the beginning of the week, 1-1-3 sows increased to 75 to 77
cents per pound from 74 to 76 cents and painted siding rose to
69 to 71 cents per pound from 68 to 70 cents, while the range
for old sheet widened to 67 to 69 cents per pound from 67 to 68
Responding to recent bumps on Comex and robust demand from
international consumers, aluminum-copper radiators moved up to
$1.63 to $1.68 per pound from $1.60 to $1.65 previously.
U.S. aluminum producers used beverage can (UBC) prices
increased to 71 to 72 cents per pound from 69 to 71 cents.
Nonferrous auto shred, or twitch, strengthened to 78 to 80
cents per pound from 75 to 77 cents, as participants said
material was beginning to flow more rapidly.
Metal is starting to floweven with Operation
Green Fence still in effect (in China)because
people are starting to understand what can and cannot go out of
the country. There is no longer an oversupply of twitch because
zorba is beginning to move, one twitch seller told
amm.com, May 14
The primary aluminum cash contract on the London Metal Exchange
ended the official session July 11 at $1,800.50 per tonne (81.7
cents per pound), up 3.7 percent from $1,736.50 per tonne (78.8
cents per pound) July 8.
Prices for mill-grade scrap also strengthened as demand
increased, market participants said. Prices for 5052 segregated
low-copper alloy clips moved up to 86 to 88 cents per pound
from 84 to 86 cents, 3105 clips increased to 78 to 80 cents per
pound from 76 to 78 cents, mill-grade mixed low-copper alloy
clips moved up to 76 to 78 cents per pound from 74 to 75 cents
and painted siding increased to 73 to 75 cents per pound from
71 to 73 cents.
Meanwhile, secondary alloy tags continued to hold steady.
A380.1, which had weakened 4 to 5 cents over the past four
weeks, remained unchanged at $1.01 to $1.03 per pound, with
several producers reporting sales around $1.02.
The margins are paper-thin at these levels but we need to
keep the metal moving, and breaking even is better than not
losing money, one producer source said.
Alloy 319.1 held at $1.07 to $1.09 per pound, 356.1 at $1.08 to
$1.10 and low-copper A360.1 and A413.1 alloys at $1.08 to
$1.10. All other secondary grades were unchanged.