NEW YORK Prices
for mill-grade aluminum scrap strengthened across the board
July 22, with secondary tags moving largely in response to
recent upticks on the London Metal Exchange, according to
Prices for 5052
segregated low-copper alloy clips increased to 86 to 88 cents
per pound from 84 to 86 cents previously, 3105 clips edged up
to 78 to 80 cents per pound from 76 to 78 cents, mixed
low-copper alloy clips rose to 75 to 77 cents per pound from 74
to 76 cents and painted siding strengthened to 72 to 74 cents
per pound from 71 to 73 cents.
"These price moves are
not necessarily a reflection of actual supply and demand," one
scrap trader said. "Mill-grade aluminum scrap tends to move in
lockstep with the LME, regardless of what is actually happening
on the ground."
smelter-grade aluminum scrap were mostly steady July 22, with
market participants saying that most producers indicated there
was no incentive to raise quotes, regardless of strengthening
"We are buying against
a market where we are bringing in more than we are selling,"
one scrap buyer told AMM. "There is really no need to
raise prices at this point. We have the material we need."
A second buyer said
that most consumers were not chasing material. "Its
summer and a lot of secondaries are somewhat heavy, scrapwise,"
Aluminum used beverage
cans (UBCs) was the only secondary grade to register a price
change, moving up to 72 to 73 cents per pound from 70 to 71
The primary aluminum
cash contract on the LME ended the official session July 22 at
$1,794.50 per tonne (81.4 cents per pound), up 2.4 percent from
$1,753 per tonne (79.5 cents per pound) July 18. The contract
traded at $1,801.50 per tonne (81.7 cents per pound) July
Secondary alloy tags
continued to hold steady, with sources saying that demand from
the automotive sector was showing no indications of ebbing.
"August is going to be
a big month," one alloy producer source said. "My contract
orders into automotive are very healthy. We would like to buy
scrap in bigger amounts and I wish something would open up a
bit, but we cant do that at the moment."
Prices for A380.1
remained at $1.01 to $1.03 per pound and 319.1 at $1.07 to
$1.09 per pound. Prices for 356.1, as well as the low-copper
A360.1 and A413.1 alloys, were all steady at $1.08 to $1.10 per
All other secondary
scrap grades were unchanged.