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US aluminum ingot prices fail to keep up with scrap tags

February 11, 2012 - 00:39 GMT Location: New York

KEYWORDS: secondary aluminum alloys , scrap prices , ingot prices

Aluminum scrap prices are rising at a faster rate than secondary ingot tags, keeping producers’ margins under pressure, market sources told AMM.

Most sources cited the LME as the chief factor in the scrap price rise, although supply and demand issues also played a part.

"I’ve not seen Chinese activity in anything but zorba and twitch, which is why prices are so high right now," one market source said.

A second source cited delivery issues as a factor weighing down supply. "Scrap availability has not been a near-term issue, (but) I think some scrap dealers sold and did not necessarily...

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