NEW YORK Prices for mill-grade aluminum scrap weakened Oct. 3 in step with declines on the London Metal Exchange.
Prices for 5052 segregated low-copper alloy clips fell to 84 to 86 cents per pound Oct. 3 from 85 to 87 cents previously, 3105 clips dropped to 77 to 79 cents per pound from 78 to 80 cents, mixed low-copper alloy clips declined to 74 to 76 cents per pound from 75 to 77 cents and painted siding dipped to 71 to 73 cents from 72 to 74 cents per pound.
Meanwhile, smelter-grade aluminum scrap remained mostly steady, with market participants saying that trading activity had fallen over the past week.
I think everyone is waiting for the LME to move before making any big decisions, one trader said. Right now, though, everything seems really quiet.
Aluminum-copper radiators was the only grade to register a price change, moving up to $1.62 to $1.67 per pound from $1.61 to $1.66 previously.
The primary aluminum cash contract on the LME ended the official session at $1,785.50 per tonne (81 cents per pound) Oct. 3, down nearly 1 percent from $1,803 per tonne (81.8 cents per pound) Sept. 30.
All other secondary grades were unchanged.