NEW YORK Prices for mill-grade aluminum scrap moved lower Aug. 29, in step with recent decreases on the London Metal Exchange.
Prices for 5052 segregated low-copper alloy clips fell to 85 to 87 cents per pound from 87 to 89 cents previously, 3105 clips moved down 3 cents to 76 to 78 cents per pound from 79 to 81 cents, mixed low-copper alloy clips adjusted to 74 to 76 cents per pound from 77 to 78 cents and painted siding inched down to 71 to 73 cents per pound from 74 to 76 cents.
Meanwhile, smelter-grade aluminum scrap remained mostly steady, with market participants saying tepid trading activity ahead of the holiday weekend had quelled pricing volatility.
The only grade to register a price adjustment was aluminum used beverage cans (UBCs), which moved to 70 to 72 cents per pound from 72 to 74 cents. One buyer reported that UBC volume flow is ok, but a little slow as we move into the long weekend.
The primary aluminum cash contract on the LME ended the official session Aug. 29 at $1,798 per tonne (81.6 cents per pound), down 2 percent from $1,835 per tonne (83.2 cents per pound) Aug. 23.
All other secondary grades were unchanged.