Benchmark A380.1 and A413.1 prices in the United States tightened on Monday due to mounting pressure from the persistently wide spread between A380.1 and non-ferrous auto shred and a competitive North American special aluminium alloy contract (Nasaac) price on the London Metal Exchange.
Fastmarkets AMM's assessment for A380.1 secondary aluminium alloy narrowed downward by a penny week on week to 90-91 cents per lb delivered to the Midwest on Monday October 29, with the A413.1 alloy also narrowing downward by 1 cent to $1.06-1.07 per lb.Sources told Fastmarkets that the unresolved scrap aluminium supply glut and the persistently wide spreads between prices for alloys and scrap aluminium are putting downward pressure on some alloy prices."A lot of [the alloy pricing] depends on the scrap situation, and the scrap situation's still fluid. There's still a lot of scrap...