NEW YORK Prices
for mill-grade aluminum scrap moved lower July 29, in step with
recent declines on the London Metal Exchange.
Prices for 5052
segregated low-copper alloy clips fell to 84 to 86 cents per
pound from 85 to 87 cents previously, 3105 clips edged down to
76 to 78 cents per pound from 77 to 79 cents, mixed low-copper
alloy clips fell to 73 to 75 cents per pound from 74 to 76
cents and painted siding slipped to 70 to 72 cents per pound
from 71 to 73 cents.
Demand for mill-grade
scrap is steady and prices are relatively predictable,
according to one scrap trader. "Prices are following the LME
penny for penny," he told AMM. "That could change if
the supply and demand picture changes, but I dont see it
happening anytime soon.
The primary aluminum
cash contract on the LME ended the official session July 29 at
$1,760 per tonne (79.8 cents per pound), down from $1,784.50
per tonne (80.9 cents per pound) at the beginning of the week
and it fell further July 30 to $1,741.50 per tonne (79 cents
Secondary alloy tags
continued to hold steady, with producers indicating that
last-minute orders were gaining popularity with consumers.
"Were busy, but
everything seems to be at the final hour," one producer source
told AMM. "People seem pretty hesitant to go out
beyond 30 days. I guess they are anticipating future
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
Meanwhile, prices for
smelter-grade aluminum scrap were mostly steady July 30, with
market participants saying that tepid market activity was
curbing price volatility.
"The summer doldrums
are here," one scrap buyer told AMM. "Mills need the
scrap but arent trying especially hard to get it."
Prices for aluminum
copper radiators, which typically move with Comex, slipped to
$1.62 to $1.67 per pound from $1.63 to $1.68 previously. The
September Comex copper contract settled at $3.1075 per pound
July 29, down from $3.1855 per pound July 25.
Aluminum used beverage
cans (UBCs) moved down a penny to 71 to 72 cents per pound from
72 to 73 cents previously. All other secondary grades were