NEW YORK Prices
for mill-grade aluminum scrap weakened Nov. 7 in step with
recent declines on the London Metal Exchange.
Prices for 5052
segregated low-copper alloy clips fell to 84 to 86 cents per
pound Nov. 7 from 85 to 87 cents previously, 3105 clips dropped
to 75 to 77 cents per pound from 76 to 78 cents, mixed
low-copper alloy clips declined to 72 to 74 cents per pound
from 73 to 75 cents and painted siding dipped to 69 to 71 cents
from 70 to 72 cents per pound.
smelter-grade aluminum scrap remained mostly steady, with
market participants saying that volatility in terminal markets
was having little effect on secondary pricing.
"Right now, its
a need-based market," one trader told AMM. "Movements
on the LME arent really impacting pricing decisions for
The only grade to
register a price adjustment was high-grade twitch, a
high-quality nonferrous auto shred, which fell about 1.5 cents
per pound to 77 to 79 cents on concerns of oversupply and
weakening demand (
amm.com, Nov. 7).
The primary aluminum
cash contract on the LME ended the official session at $1,776
per tonne (80.6 cents per pound) Nov. 7, down slightly from
$1,788 per tonne (81.1 cents per pound) Nov. 4.
All other secondary grades were unchanged.