Aluminum Scrap Prices: Weekly Market Report- 2nd February, 2024

SEATTLE (Scrap Monster): The weekly price trends of scrap aluminium across worldwide markets for the past week (26^th January, 2024 to 1^st February, 2024) on the Scrap Monster Price Index are provided below:

North America Prices

The prices of all commodities except E.C. Aluminum Wire remained flat over the prior week.

6063 Extrusions, Al/Cu Radiators/Fe, UBC, Old Sheet, Old Cast and MLC Clips prices held steady over the week.

The prices of Mixed Aluminum Turnings, Chrome Wheels, Breakage 50% Recovery, Aluminum Transformers, Aluminum Radiators/Fe and Al/Cu Radiators too were flat on Index.

Meantime, the E.C. Aluminum Wire prices recorded marginal surge by 1.01% during the week, rising from $0.99 per Lb at the start of the week to close the week at $1.00 per Lb.

The chart below represents the price movement in E.C. Aluminum Wire during the course of the week:

The other scrap categories that recorded no change in prices included 6063 Extrusions/Fe, 6061 Extrusions, 5052 Scrap, 356 Aluminum Wheels(Clean), 3003 Scrap, 1100 Scrap, Painted Siding, Litho Sheets, and Zorba 90% NF.

USA East Coast Prices

The regional scrap aluminum prices witnessed no change when compared with the prior week. The only exception was E.C. Aluminum Wire, which registered nominal week-on-week surge.

USA Midwest Prices

The prices of E.C.Aluminum Wire increased marginally on Index over the prior week.

All other categories remained steady when compared with the week before.

6063 Extrusions, Al/Cu Radiators/Fe, UBC, Old Sheet, Old Cast and MLC Clips prices witnessed no change over the week.

The prices of Mixed Aluminum Turnings, Chrome Wheels, Breakage 50% Recovery, Aluminum Transformers, Aluminum Radiators/Fe, Al/Cu Radiators and Aluminum Radiators too held steady on Index.

The U.S. Midwest region recorded no change in prices for 6063 Extrusions/Fe, 6061 Extrusions, 5052 Scrap, 356 Aluminum Wheels(Clean), 3003 Scrap, 1100 Scrap, Painted Siding, Litho Sheets and Zorba 90% NF during the week ended 11th January, 2024.

The weekly price chart of Painted Siding is depicted below:

USA West Coast Prices

The scrap aluminum prices in the region mostly remained stable week-on-week variation. All categories of scrap, except E.C. Aluminum Wire, maintained previous week’s price levels.

6063 Extrusions, Al/Cu Radiators/Fe, UBC, Old Sheet, Old Cast and MLC Clips prices held steady over the week.

The prices of Mixed Aluminum Turnings, Chrome Wheels, Breakage 50% Recovery, Aluminum Transformers, Aluminum Radiators/Fe and Al/Cu Radiators too were flat on Index.

The other scrap categories that recorded no change in prices included 6063 Extrusions/Fe, 6061 Extrusions, 5052 Scrap, 356 Aluminum Wheels(Clean), 3003 Scrap, 1100 Scrap, Painted Siding, Litho Sheets, and Zorba 90% NF.

The chart given below portrays the weekly movement in prices of 3003 Scrap.

China Prices

The Chinese aluminum scrap prices witnessed mixed trend over the week.

The Old Cast scrap saw its prices drop from CNY 16,500 per MT to CNY 16,350 per MT during the week.

The weekly price chart of Old Cast scrap is given below.

Old Sheet prices too dropped by 0.91% over the prior week, as depicted in the below chart:

The other scrap commodities to register decline include 6063 Extrusions, Aluminum Ingots, and E.C. Aluminum Wire.

Meantime, Zorba 90% NF, UBC, Aluminum Transformers and Aluminum Radiators recorded no change over the prior week on Index.

India Prices

The Aluminum utensil scrap prices witnessed decline by 1.58% from the prior week. 

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

The Aluminum ingots prices too were down, registering a week-on-week fall by 1.51%.

Europe Prices

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

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,251.00 per tonne as on 1^st February, 2024. The LME Aluminum Cash Settlement contract inched lower marginally from $2,232.00 a day before to $2,212.50 per tonne.

The LME Aluminum stocks declined over the previous day to close at 535,575 tonnes on 1^st February, 2024, as compared with 537,575 a day before.

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