(AMM) Rising demand boosts scrap aluminum tags

New York 01 July 2009 21:41

Aluminum scrap prices continue to move higher, with market participants debating whether an improvement in economic conditions will trigger a scrap shortage and how much upward distortion may be caused by financially-weak consumers paying a reassurance surcharge to attract metal.

For mixed low copper clips headed to smelters, prices are reported largely in a range of 47 to 49 cents a pound, up from 46 to 47 a week earlier. Over the past year, prices for that scrap grade fell from a high of 90 to 91 cents a pound in July to a low of 33...

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