Nonferrous

STEADY AS SHE GOES

Aluminum scrap looks to have held up fairly nicely during the past few months. While copper continues to exercise its volatile nature, aluminum scrap has been steadily improving its market position.

While the overall sense of the market is upbeat, descriptions of conditions are fairly divergent, depending upon the company consulted. Some smelters and foundries are running at good schedules, keeping supply and demand tight. Many domestic extruders are "hungry" for more scrap material, one broker notes, while overall demand is stronger than supply. This could result in better pricing going forward.

A number of labor problems have cut off some end markets, though most aluminum traders feel that domestic demand is strong enough to keep the market aloft for the next several months.

The strength in new construction seems to be playing a positive role in the fairly sturdy market for aluminum scrap.

Nickel and stainless steel also are enjoying steady markets, though much less volatile than copper or aluminum markets. One nickel trader notes that there is an effort to reduce inventory of secondary and primary nickel. Overall, markets for nickel scrap remain tight, with more primary nickel becoming available.

(Additional news about nonferrous markets, including breaking news and consuming industry reports, is available at www.RecyclingToday.com.)