New York-- The secondary aluminium ingot market appears to be at somewhat of an impasse, with some sellers noting a trimming in prices while others say the market is inching upward.
Some of the discrepancy is the result of both high and low-end quotes migrating toward the middle.
" The way the scrap world is now, we're not going to come down much," one smelter executive said after noting some half-cent cuts in the spot price.
Another market participant, reporting a stronger market, conceded that a decline is quite possible in about two or three weeks.
Rising scrap prices have resulted in shinkage in secondary producers' margins. "Everybody's scrap is very expensive against that(current) $1.05 to $1.07 (a pound for A380.1)," another source said. "The situation is confused."
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