NEW YORK Free-market
aluminum scrap and alloy prices increased further Thursday with
a rise in London Metal Exchange pricing as consumers look to
optimize inventory levels moving into the holiday season.
Secondary-grade mixed low-copper
clips moved up to 74 to 76 cents per pound from 73 to 75 cents
previously, while the range for painted siding widened to 70 to
72 cents per pound from 70 to 71 cents.
Prices for 5052 segregated clips
rose to 94 to 96 cents per pound from 92 to 94 cents, while
3105 clips increased to 83 to 85 cents from 81 to 83 cents.
The A380.1 price range widened
to $1 to $1.02 per pound from $1 to $1.01, while 356.1
increased to $1.09 to $1.10 per pound from $1.08 to $1.09.
The LMEs North American
special aluminum alloy contract (Nasaac) cash price ended
Fridays official session at $1,976 per tonne (89.6 cents
per pound), up 3.2 percent from $1,915 per tonne (86.9 cents
per pound) on Tuesday.
Alloy producers contacted by
AMM said they were pushing prices higher with support
from a rising LME and the resulting higher scrap costs.
"Im told right now that
our cost with the price of scrap is $1.02, without freight or
profit. ... But everybody is sitting on a lot of cheaper
inventory," a producer source said.
"Last week you could have gotten
98 to 99 cents for A380.1, but it looks like its going to
go up in the winter like it always does," a die caster
Meanwhile, scrap buyers said
that the LME bump had promoted trading activity.
"With the move in the LME,
things are moving. People are trying to get stuff before the
end of the year. Theres been a lot of activity on the
mill side," one buyer said.
"Were buying enough scrap
that we need, though if theres some particular item we
need were raising our numbers. Larger consumers may have
to stretch a little bit more," a second buyer said. "It always
slows down in December, but I think the first half of this
December will still be pretty busy."