NEW YORK Secondary aluminum alloy prices remained unchanged Sept. 30, with market participants saying producers were attempting to hold the line on prices and fend off lower quotes from consumers.
As producers fight to achieve better margins, sellers who lowered quotes in response to downward pricing pressure were hurting the entire market, several sellers said.
"Consumers can smell a desperate salesman from a mile away and I refuse to be one of those guys," one producer said. "You can only run at $1.01 per pound for A380 for so long before you go out of business."
Meanwhile, smelter-grade aluminum scrap prices were steady to slightly higher during the past week, as buyers and sellers were slow to react to recent upticks on the London Metal Exchange.
Prices for aluminum used beverage cans (UBCs) inched up to 69 to 71 cents per pound Sept. 30 from 68 to 70 cents previously.
Mill-grade aluminum scrap price moved higher Sept. 30, with traders indicating the raise was "purely LME driven."
Prices for 5052 segregated low-copper alloy clips moved to 85 to 87 cents per pound from 84 to 86 cents previously, 3105 clips rose to 78 to 80 cents from 76 to 78 cents, mixed low-copper alloy clips increased to 75 to 77 cents from 73 to 75 cents and painted siding edged up to 72 to 74 cents from 71 to 73 cents per pound previously.
The cash primary aluminum contract on the LME ended the official session at $1,803 per tonne (81.8 cents per pound) Sept. 30, up 2.4 percent from $1,761.50 per tonne (79.9 cents per pound) Sept. 26. But the contract lost a little ground Oct. 1, closing the session at $1,786 per tonne (81 cents).
All other secondary grades were unchanged.