Scrap Aluminum Prices: Weekly Market Report- 5th May, 2023

The LME Aluminum stocks declined over the previous day to close at 563,300 tonnes on 4th May, 2023.

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (28^th April to 4^th May, 2023) on the Scrap Monster Price Index are provided below:

North America Prices

The prices witnessed mixed trend over the prior week. Most of the scrap commodities in the region witnessed decline, while a few maintained their previous week’s price level.

The biggest decline in prices over the previous week was seen in Mixed Aluminum Turnings, E.C. Aluminum Wire and 6063 Extrusions/Fe.

The Mixed Aluminum Turnings prices recorded a dip by 2.00% over the previous week. The prices edged lower by $0.01 per Lb to close at $0.49 per Lb on Index.

The chart below represents the price movement in Mixed Aluminum Turnings during the past week:

The prices of E.C. Aluminum Wire and 6063 Extrusions/Fe too witnessed notable decline, with prices edging lower by 1.74% and 1.49% respectively.

The aluminum scrap commodities that saw no change in price over previous week price levels include Breakage 50% Recovery, Aluminum Transformers, Aluminum Radiators/Fe and Aluminum Radiators.

USA East Coast Prices

The regional scrap aluminum prices displayed mixed trends during the week ended 4^th May, 2023.

The top three losers were Mixed Aluminum Turnings, E.C. Aluminum Wire and 6063 Extrusions/Fe.

The prices of Breakage 50% Recovery, Aluminum Transformers, Aluminum Radiators/Fe and Aluminum Radiators witnessed no change over the previous week.

All other scrap commodities recorded marginal decline in prices week-on-week.

USA Midwest Prices

The prices of very few commodities held steady over the prior week, whereas most varieties posted nominal decline in prices.

5052 Scrap, Al/Cu Radiators/Fe and Al/Cu Radiators were the scrap categories to post least declines, registering declines by 0.99%, 0.66% and 0.60% respectively. 5052 Scrap prices dipped from $1.01 per Lb at the start of the week to $1.00 per Lb towards the end of the week. Also, Al/Cu Radiators/Fe dipped from $1.52 per Lb to $1.51 per Lb during the course of the week. Meantime, the prices of Al/Cu Radiators ended the week at $1.67 per Lb, as compared with $1.68 per Lb at the start of the week.

The prices of Breakage 50% Recovery, Aluminum Transformers, Aluminum Radiators/Fe and Aluminum Radiators remained flat on Index.

The weekly price chart of E.C. Aluminum Wires, whose prices edged lower by 1.74% week-on-week, is provided below:

 USA West Coast Prices

The regional prices of all scrap aluminum categories, except Breakage 50% Recovery, Aluminum Transformers, Aluminum Radiators/Fe and Aluminum Radiators posted week-on-week decline.

5052 Scrap, Al/Cu Radiators/Fe and Al/Cu Radiators posted least decline over the week. The price weekly movement of Al/Cu Radiators is depicted in the chart below.

Mixed Aluminum Turnings declined the most, with prices falling by 2% from $0.50 per Lb to $0.49 per Lb over the week ending 4^th May, 2023.

China Prices

The aluminum scrap prices in the region declined upon comparison with the previous week. The prices of 6063 Extrusions, Old Cast and Old Sheet declined the most, each falling by 0.31%.

The least decline was seen in Aluminum Ingots prices, which fell by CNY 50 per MT over the week from CNY 18,500 per MT to CNY 18,450 per MT during the course of the week. The weekly price chart for Aluminum Ingots is provided below.

It must be noted that the prices of Aluminum Radiators, Aluminum Transformers, UBC and Zorba 90% NF registered no change when compared with the prior week.

India Prices

The Aluminum utensil scrap prices edged lower from INR 204,000 per ton during the start of the week to INR 198,000 per ton on 4^th May, 2023. A similar decline by INR 6,000 per ton was recorded in Aluminum ingots prices over the week.

The price chart of Aluminum utensil scrap is as follows:  

Europe Prices

The prices of all aluminium scrap categories (Aluminum Cuttings, Mixed Aluminum Turnings, Old Cast and UBC) held steady without any change during the week.

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,308.00 per tonne as on 4^th May, 2023. The LME Aluminum Cash Settlement contract edged lower from $2,330.00 a day before to $2,297.00 per tonne.

The LME Aluminum stocks declined over the previous day to close at 563,300 tonnes on 4^th May, 2023, as compared with 565,200 a day before.

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