NEW YORK Prices
for most grades of secondary aluminum smelters scrap are
largely steady, supported by upticks on terminal markets,
Several traders noted
that limited trading activity ahead of the upcoming holiday
season has served to quell pricing volatility.
"There is really not a
whole lot going on in this market," one buyer said. "Prices are
steady because there isnt a ton of business being
transacted and the (London Metal Exchange) is up."
The LMEs primary
aluminum cash contract ended the official session Dec. 13 at
$1,750.50 per tonne (79.4 cents per pound), down 0.5 percent
from $1,759.50 per tonne (79.8 cents per pound) the previous
day but still marginally ahead of $1,749 per tonne (79.3 cents
per pound) at the beginning of the week.
aluminum scrap followed movements on terminal markets, with
every grade assessed by AMM moving up a penny.
"This is very much a
business-as-usual market," said one seller. "Spreads are not
changing, and most people I talk with are not doing a ton of
selling or buying."
alloy prices also were steady Dec. 12.
"The market is flat
and will likely be flat for the better part of two weeks," one
alloy seller said. "Demand is still good, and if the LME holds
we likely wont see any dramatic changes until after New