NEW YORK Secondary
mill-grade aluminum prices have risen in step with the London
Metal Exchange, with market participants noting "high volumes
and strong demand."
Prices for 5052 segregated
low-copper alloy clips moved to a range of 96 to 98 cents per
pound Jan. 31, up 2 cents from 95 to 96 cents on Jan. 28, while
3105 clips rose to 85 to 87 cents per pound from 83 to 85
"Weve had a bit of
excitement as of late," one mill-grade seller said. "Buyers are
quick to move when the market goes up. There isnt a lot
of metal to be had out there."
Mill-grade mixed low-copper
clips increased by 2 cents to a range of 83 to 85 cents per
pound from 81 to 83 cents, while painted siding strengthened to
78 to 80 cents per pound from 76 to 78 cents.
The cash primary aluminum
contract on the LME ended the official session at $2,056 per
tonne (93.3 cents per pound) Feb. 1, up 2.5 percent from
$2,006.50 per tonne (91 cents per pound) Jan. 28.
Sources active in the primary
market noted that the LMEs recent bolstering is largely
attributable to noticeable improvements in construction
spending, which gained 9.2 percent in 2012, according to the
U.S. Commerce Department.
"Sentiment seems to be that the
LME will continue to rise," one source said.
In step with the LME, some
secondary smelters aluminum scrap grades increased Jan.
Prices for 1-1-3 sows rose to 80
to 82 cents per pound from 79 to 81 cents, while
secondary-grade painted siding rose to 73 to 75 cents from 72
to 74 cents per pound.
"Scrap is not that readily
available right now," one secondary aluminum scrap buyer said.
"Were not getting a whole lot of calls from people
looking to make sales."
Old sheet strengthened by a
penny to 73 to 75 cents per pound from 72 to 74 cents.
High-grade turnings were up 2
cents to 72 to 74 cents per pound from 70 to 72 cents, while
mixed turnings moved to 66 to 67 cents per pound from 65 to 67
radiators rose to $1.79 to $1.84 per pound from $1.76 to $1.81
Used beverage cans (UBCs)
increased to 79 to 80 cents per pound from 77 to 79 cents
The cash North American special
aluminum alloy contract (Nasaac) closed the LMEs official
session at a two-week high of $1,900 per tonne (86.2 cents per
pound) Jan. 31. It stepped back slightly Feb. 1 to finish at
$1,890 per tonne (85.7 cents per pound) but was still up 2.7
percent from $1,841 per tonne (83.5 cents per pound) Jan.
Meanwhile, prices for A380.1
held steady at $1.02 to $1.04 per pound, with market
participants noting that "spreads for A380.1 will likely remain
All other secondary aluminum
grades were unchanged.