A disparity is noticed in the scrap aluminium market where the secondary aluminium alloy prices have weakened despite the strong gains in the North American Special Aluminium Alloy Contract (Nasaac).
Analysts believe that the dip in the prices is caused by an excessive supply of alternative ingots in the market. Since there is plenty of cheap aluminium scrap available, the production of RSI (remelt scrap ingot) has risen, say industry participants.
This causes the secondary alloy prices to slow despite the upward trend in the Nasaac, where the cash contract was seen to be $1,995 per ton at the closing of the LME session on February 2, rising 2.4% from January 29 price of $1,910 per ton. The price however fell to a balance of $1,926 per ton at the close of February 3 session.
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