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(AMM) Auto cast demand softens fall in secondary aluminum alloy tags

May 26, 2010 - 20:01 GMT Location: New York

Secondary aluminum spot market prices have declined 2 to 3 cents per pound from the middle of last week, with the full impact of London Metal Exchange pricing cushioned by continued strong demand from the auto industry for castings, along with skimpy holdings of finished alloy at some smelters.

The prevailing range for A380.1 is 99 cents to $1.01 a pound, down from $1.02 to $1.03 per pound previously. Some market participants believe deals have been made at 97 cents, although this couldn't be confirmed.

"Demand has been pretty good in both April and May," a sales staffer at...

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