NEW YORK Free-market
aluminum alloy prices were stable Thursday as producers
attempted to push prices back to a profitable level but
continued to be undercut by lower quotes.
The price range for 319.1
widened to $1.06 to $1.08 per pound from $1.06 to $1.07
previously, while A380.1 was unchanged at $1.02 to $1.03 per
Aluminum-copper radiators rose
to $1.72 to $1.78 per pound from $1.70 to $1.75 previously,
while twitch increased to 81 to 83 cents per pound from 80 to
The cash North American special
aluminum alloy contract (Nasaac) ended the London Metal
Exchanges official session Friday at $1,935 per tonne
(87.8 cents per pound), down 1.9 percent from Tuesdays
close at $1,972 per tonne (89.4 cents per pound).
Several producers contacted by
AMM said they were pushing higher quotes, including
$1.04 per pound for A380.1, but had yet to find any
One alloy producer source said
hed heard of one A380.1 order at 99 cents per pound that
"could be Nasaac" material. "Some people started raising prices
and other guys are still languishing. I dont think this
is going to fall apart over the weekend, but if no one sells
anything theyll continue to sell at a loss," he said.
"I think youll see some
new resolve to push ingot levels upward to a new level of
respectability. I think we should be in the $1.04 to $1.05
range very easily. But its hard to push prices when you
dont get everyone on board," a second producer source
"In my opinion, producers have
inventory they are trying to shed in a historically slow sales
month," a third producer source said. "Until this excess
inventory is flushed out and shipments come back a bit, we can
expect soft secondary ingot values. There is just too much
inventory sitting around for the higher scrap prices to force
ingot values up. I am not sure where the tipping point is."
Meanwhile, scrap buyers
reports on trading activity were mixed.
"Its been pretty good.
Mill scrap is definitely moving," one buyer said.
"It kinda died, and volume into
the yards is slow. I dont know why," a second buyer