NEW YORK Prices for some secondary aluminum alloys edged higher Oct. 21, as producers said volumes had increased over the past week and sales for November were locking in "with limited issues."
Prices for A380.1 tightened to $1.02 to $1.03 per pound from $1.01 to $1.03 and 319.1 was up on the low end to $1.08 to $1.09 per pound from $1.07 to $1.09 previously. 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.
Forward sales have been robust so far, with most consumers offering fair market value for material, one producer source told AMM. "We have locked in several sales at $102.5 per pound on A380 and $1.09 per pound for A413," he said. "November is looking really good, but we are anticipating the typical holiday slowdown in December."
October spot business has also been strong, one seller said, noting the automotive industry continues to be the primary driver. "Anybody that has been building a part that goes on to a car has been killing it in 2013," the seller said. "That means that anyone selling to these suppliers has also been very busy."
A third seller said he had sales as high as $1.05 per pound for A380.1, but noted the average sale price was around $1.03 per pound. "There are guys willing to pay up right now," he said. "Its all about the quality of the product and the reliability of the seller."