LME drop shocks US aluminium scrap market

Volatility in London Metal Exchange aluminium prices has shocked the US scrap market, prompting most buyers to keep bid prices steady or to hold off buying until a clearer direction emerges.

Metal Bulletin sister publication AMM’s price assessments for mill-grade aluminium scrap were mostly unchanged this week, with 5052 segregated low-copper alloy clips at 74 to 76 cents per lb and mill-grade painted siding at 61 to 63 cents. “With the terminal markets falling, it’s hard to tell what’s going to happen. We’ll just take it one day at a time and feel our way as we go,” one buyer told AMM. “The market is way too volatile at...

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This article was first published by AMM

July 08, 2015

01:51 GMT