Aluminum Scrap Prices: Weekly Market Report- November 1, 2024

The LME Aluminum Cash Settlement contract inched lower from $2,623.00 a day before to $2,617.50 per tonne.

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (October, 25 to October 31, 2024) on the Scrap Monster Price Index are provided below:

North America Prices

There was a general downward tendency in the prices. All scrap categories, except a few, recorded decline when compared with the previous week.

The largest price drop of the week was seen in Breakage 50% Recovery, which recorded a decrease from $0.37 per pound to $0.36 per pound. The commodity saw a 2.70% weekly price decrease. Mixed Aluminum Turnings and 6063 Extrusions/Fe had a slight decrease in price as well, falling by 1.96% and 1.47%, respectively.

The following chart shows the week-over-week price fluctuation for Breakage 50% Recovery:

Litho Sheets, 6063 Extrusions, Painted Siding, 1100 Scrap, 3003 Scrap, 356 Aluminum Wheels (Clean), 5052 Scrap, 6061 Extrusions, Chrome Wheels, MLC Clips, Old Cast, Old Sheet, UBC, and Zorba 90% NF prices reported decline over the previous week.

USA East Coast Prices

Breakage 50% Recovery prices recorded biggest dip over the week, registering 2.70% decline from $0.37 per Lb to $0.36 per Lb. Also, modest weekly declines by 1.96% and 1.47% were seen in Mixed Aluminum Turnings and 6063 Extrusions/Fe.

The rest of the scrap aluminium categories, except a few, recorded week-over-week decline. Breakage 50% Recovery and Mixed Aluminum Turnings were unchanged on the Index. E.C. Aluminum Wire prices edged higher marginally by 0.88%.

The least declines were seen in E.C. Aluminum Wire and 5052 Scrap.

In the meantime, prices of Aluminum Radiators, A/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe and Aluminum Transformers held steady during the week ending October 31, 2024.

USA Midwest Prices

The aluminium scrap prices in the region mostly edged lower over the previous week. The top three losers were Breakage 50% Recovery, Mixed Aluminum Turnings and 6063 Extrusions/Fe.

The Breakage 50% Recovery prices ended the week at $0.35 per Lb, down from the previous week’s price of $0.36 per Lb.

Also, the week witnessed dip in prices of Mixed Aluminum Turnings and 6063 Extrusions/Fe to $0.49 per Lb and $0.66 per Lb respectively.

Below is the weekly pricing chart for Mixed Aluminum Turnings.

The other commodities to register week-on-week dip in prices were Litho Sheets, 6063 Extrusions, Painted Siding, 1100 Scrap, 3003 Scrap, 356 Aluminum Wheels (Clean), 5052 Scrap, 6061 Extrusions, Chrome Wheels, MLC Clips, Old Cast, Old Sheet, UBC, and Zorba 90% NF. 

USA West Coast Prices

The region's prices of majority of scrap aluminum categories continued to fall week over week.

The scrap categories to dip the most were Breakage 50% Recovery and Mixed Aluminum Turnings, whose prices recorded declines by 2.63% and 1.96% respectively over the previous week. Breakage 50% Recovery prices recorded fall from $0.38 per Lb to $0.37 per Lb, whereas Mixed Aluminum Turnings prices dropped from $0.51 per Lb to $0.50 per Lb.

6063 Extrusions/Fe prices were down by 1.45% on the Index during the week ended October 31, 2024. The below chart provides weekly price movement in 6063 Extrusions/Fe:

The prices of Aluminum Radiators, A/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe and Aluminum Transformers witnessed no variation during the week

China Prices

The Chinese aluminum scrap prices inched higher over the week.

Aluminum Transformers saw its prices increase from CNY 9,350 per MT to CNY 9,400 per MT during the week.

The weekly price fluctuation in Aluminum Transformers is seen in the chart below:

Aluminum Radiators and Zorba 90% NF prices edged higher by 0.51% each. Also, UBC prices increased marginally from CNY 12,500 per MT to CNY 12,550 per MT during the course of the week.

Meanwhile, 6063 Extrusions, E.C. Aluminum Wire, Aluminum Ingots, Old Cast and Old Sheet prices recorded no change in weekly prices.

India Prices

The prices of scrap aluminum utensils saw a little increase of 2.20%, edging higher to INR 232,000 a tonne during the week ending on October 24, 2024.

The weekly price chart of Aluminum utensil scrap is as follows:  

The prices of Aluminum ingots also were up by 2.12% during the week.

Europe Prices

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

LME Aluminum Market Update

The closing price of LME Aluminum 3-Month contract stood at USD 2,644.00 per tonne as of October 31, 2024. The LME Aluminum Cash Settlement contract inched lower from $2,623.00 a day before to $2,617.50 per tonne.

The LME Aluminum stocks declined over the previous day to close at 738,700 tonnes on October 31, 2024, down slightly from 741,200 tonnes on October 30, 2024.

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