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Aluminium Alloy
Often mis-called scrap aluminium, aluminium alloy refers to a complex set of specialty aluminium alloys, where various amounts of other metals are combined with primary aluminium to give strength and specific characteristics for a particular use.
Applications
Aluminium alloy is used extensively in the auto industry and as more aluminum is used per vehicle, the pool of scrap aluminium is bound to increase to as the metal in these vehicles eventually enters the supply chain after they have been scrapped. Many alloys are produced from scrap or recycled material, which makes it an extremely environmentally-friendly metal, which is likely to grow in size.
Demand
Aluminium alloy is a growth market as more aluminium is being incorporated in cars especially as environmental legislation calls for more efficient vehicles. The use of alluminium alloy instead of steels provides a significant weight advantage. In addition, by alloying aluminium with other metals, the alloys can be finely tuned for specific applications. The LME brands are thoses used widely in the auto industries. There are over 100 grades of aluminium alloy, some of which are produced specifically for a particular semi-manufacturer. Demand has picked up on two accounts, firstly as the number of cars produced grows, especially with strong demand from asia, and secondly as more aluminium is used per vehicle.
Supply
Aluminium Alloy production is located in areas where there are mature industrial bases, good recycling policies as well as nearby demand for aluminium alloy, such as car production plants, or white goods manufacturers. The aluminium alloy market is currently less than half the size of the primary aluminium market, with some 7.80 million tonnes of alloy produced against 20 million tonnes of primary aluminium production annually.
Factors affecting supply
Although aluminium alloy prices broadly trading around primary aluminium prices, the differential changes enough to warrant its own LME contract. Aluminium alloy generally trades at a discount to primary aluminium, especially when aluminium prices are high as this attracts more scrap recycling. However when aluminium prices are low, the incentive to collect and recycle scrap aluminium diminishes and as such the secondary aluminium prices tends to fall less sharply than primary aluminium prices.
North American Special Aluminium Alloy, NASAAC, is another form of aluminium alloy contract traded on the LME, that meets the specifications used more widely in the North American secondary aluminium industry.
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