NEW YORK Secondary aluminum alloy prices remained steady Oct. 17, despite rumors that demand had slowed over the past two weeks.
"Were busy, but it seems like some of the buyers have taken their foot off the gas pedal a little bit," one producer source told AMM, adding that the government shutdown had given the entire industry a sense of uncertainty.
Prices for A380.1 remained at $1.01 to $1.03 per pound and 319.1 prices held at $1.07 to $1.09 per pound. Prices for 356.1 were steady at $1.09 to $1.11 per pound and low-copper A360.1 and A413.1 alloys were unchanged at $1.09 to $1.10 per pound.
Meanwhile, prices for mill-grade aluminum scrap moved lower in step with recent downturns on the London Metal Exchange.
Prices for 5052 segregated low-copper alloy clips narrowed to 85 to 86 cents per pound from 85 to 87 cents previously, 3105 clips tightened to 77 to 78 cents per pound from 77 to 79 cents, mixed low-copper alloy clips fell a penny to 74 to 76 cents per pound from 75 to 77 cents and painted siding slipped 2 cents to 70 to 72 cents per pound from 72 to 74 cents.
The primary aluminum cash contract on the LME ended the official session Oct. 17 at $1,796 per tonne (81.5 cents per pound), down from $1,822 per tonne (82.6 cents per pound) at the beginning of the week.
Prices for smelter-grade aluminum scrap were mostly steady as sources said that volatility in terminal markets was having little effect on secondary pricing.
"Its all about supply and demand right now," one scrap buyer told AMM. "We are making pricing decisions based on need, nothing else."
Aluminum used beverage cans was the only grade to register a change, moving down a penny to 68 to 70 cents per pound from 69 to 71 cents previously. All other secondary grades were unchanged.