Secondary aluminium alloy prices in the United States held their ranges on Monday October 22, but scrap spreads could imperil the stability of these prices with current supply contracts nearing their conclusion.
A wide spread between the benchmark A380.1 and feedstock scrap aluminium looms over the secondary aluminium alloy market but has had surprisingly less of an impact on alloy pricing than it would have had in previous years, market sources said.Fastmarkets AMM's assessment of the benchmark A380.1 secondary aluminium alloy price held at 90-92 cents per lb on Monday, unchanged from the previous week.The spread between A380.1 and non-ferrous auto shred (twitch) has held at 44.5 cents per lb since September 27 after previously reaching 47 cents per lb on September 4 - the widest spread between these prices since October 2008.Twitch prices had fallen due to China's 25% tariff on non-ferrous scrap metal imports. The US market had already been grappling with China's 25% tariff on aluminium scrap, established in April,...