The benchmark secondary aluminium alloy A380.1 price climbed further on Thursday July 16, supported by firming aluminium scrap prices and thinning North American special aluminium alloy contract (Nasaac) inventories in London Metal Exchange warehouses.
Fastmarkets assessed the price for aluminium alloy A380.1, delivered Midwest US at 68-70 cents per lb on Thursday, tightening upward by 1 cent from 67-70 cents per lb the previous week.Deals were reported in the newly assessed range, with business below 68 cents per lb no longer heard in the market. The price had also risen the previous week, to 67-70 cents per lb on July 9 from 67-69 cents per lb on July 2.Producers attributed this to gains in scrap metal and LME Nasaac prices.Indeed, scrap aluminium prices continue...