Aluminum Scrap Prices: Weekly Market Report- March 1st, 2024

The LME Aluminum Cash Settlement contract edged higher from $2,130 a day before to $2,163 per tonne.

SEATTLE (Scrap Monster): The weekly price trends of scrap aluminium across worldwide markets for the period from 23^rd to 29^th February, 2024 on the Scrap Monster Price Index are provided below:

North America Prices

The prices, in general, witnessed downward trend. However, a few categories held on to their previous week’s prices.

Mixed Aluminum Turnings recorded biggest decline in prices over the week, edging down from $0.45 per Lb to $0.44 per Lb. The prices of 6063 Extrusions/Fe and 6061 Extrusions too recorded modest decline, falling by 1.64% and 1.56% respectively.

The chart provided below depicts the price movement in Mixed Aluminum Turnings during the course of the week:

Meantime, E.C.Aluminum Wire, 5052 Scrap, 6063 Extrusions, Litho Sheets and MLC Clips recorded least decline in prices over the week.

USA East Coast Prices

Mixed Aluminum Turnings prices recorded biggest dip over the week, registering 2.22% decline from $0.45 per Lb to $0.44 per Lb. A notable weekly decline by 1.64% and 1.56% was seen in 6063 Extrusions/Fe and 6061 Extrusions prices.

The scrap aluminium categories that recorded nominal decline in prices included E.C.Aluminum Wire, 5052 Scrap, 6063 Extrusions, Litho Sheets and MLC Clips.

Meantime, prices of Aluminum Radiators, Al/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery held steady on Index.

USA Midwest Prices

The aluminium scrap prices in the region mostly edged lower over the previous week. The top three losers were Mixed Aluminum Turnings, 6063 Extrusions/Fe and 6061 Extrusions.

The Mixed Aluminum Turnings prices ended the week at $0.44 per Lb, down from the previous week price of $0.45 per Lb.

Also, the week witnessed dip in prices of 6063 Extrusions/Fe and 6061 Extrusions to $0.59 per Lb and $0.62 per Lb respectively.

The weekly price chart of 6063 Extrusions/Fe is provided below:

USA West Coast Prices

The aluminium scrap metal prices in the region remained weak, with prices of all except a few categories recording week-on-week decline.

The scrap categories to dip the most were Mixed Aluminum Turnings and 6063 Extrusions/Fe, whose prices recorded sharp decline by 2.22% and 1.59% respectively over the previous week. 6061 Extrusions prices recorded fall from $0.64 per Lb to $0.63 per Lb.

The below chart provides weekly price movement in 6061 Extrusions:

Meantime, prices of Aluminum Radiators, Al/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery recorded no change over the week.

China Prices

The Chinese aluminum scrap prices edged higher over the week.

The Old Cast scrap saw its prices edge higher from CNY 16,300 per MT to CNY 16,400 per MT during the week.

Old Sheet prices too increased by 0.61% over the prior week. Also, 6063 Extrusions witnessed similar jump in prices.

The least surge was recorded in UBC prices, which saw weekly rise by 0.42%. The below chart depicts the price movement of the commodity over the previous week:

Meantime, E.C. Aluminum Wire, Aluminum Ingots, Aluminum Transformers, Aluminum Radiators and Zorba 90% NF prices too edged higher marginally upon comparison with the previous week.

India Prices

The Aluminum utensil scrap prices remained flat at INR 188,000 per ton during the week ended 8th February, 2024.

The price chart of Aluminum utensil scrap is as follows:  

The prices of Aluminum ingots too held steady during the week.

Europe Prices

The prices of all aluminium scrap categories (Aluminum Cuttings, Mixed Aluminum Turnings, Old Cast and UBC) held steady during the week.

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,207.00 per tonne as on 29^th February, 2024. The LME Aluminum Cash Settlement contract edged higher from $2,130 a day before to $2,163 per tonne.

The LME Aluminum stocks declined over the previous day to close at 589,650 tonnes on 29^th February, 2024, as compared with 591,675 tonnes on 28^th February, 2024.

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