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(AMM) Alloy tightness helps offset secondary aluminum's fall

June 03, 2010 - 21:31 GMT Location: NEW YORK

KEYWORDS: secondary aluminum , A380.1 , LME

Secondary aluminum prices have weakened slightly since the middle of last week, largely amid pressure from falling London Metal Exchange prices, although a tight alloy market is providing some resistance.

Most grades registered a 1-cent decline during the past week, with A380.1 prices now centered in a range of 99 cents to $1 per pound vs. 99 cents to $1.01 previously, while alloy 319.1 is off a penny on both ends of the range to stand at $1.05 to $1.06 per pound.

One smelter, dropping a penny on several grades, said falling values on the LME had helped reduce the cost of his scrap intake, allowing for cheaper ingot. However, a fairly tight alloy...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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