Aluminum Scrap Prices: Weekly Market Report- 5th July, 2024

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (28^th June to 4^th July, 2024) on the Scrap Monster Price Index are provided below:

North America Prices

The prices witnessed notable increase over the prior week. A few commodities held steady during the week.

The prices of Al/Cu Radiators/Fe, Al/Cu Radiators and Mixed Aluminum Turnings recorded the biggest surge on Index.

The Al/Cu Radiators/Fe prices recorded an increase by 2.72% over the previous week. The prices edged higher by $0.04 per Lb to close at $1.51 per Lb on Index, compared with $1.47 per Lb during the start of the week.

The chart below represents the price movement in Al/Cu Radiators/Fe during the past week:

The prices of Al/Cu Radiators and Mixed Aluminum Turnings too witnessed notable surge, with prices inching higher by 2.38% and 2.0% respectively.

The only aluminum scrap commodities to maintain previous week price levels were Aluminum Radiators, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery.

USA East Coast Prices

The regional scrap aluminum prices mostly edged higher when compared with the prior week. The top three gainers were Al/Cu Radiators/Fe, Al/Cu Radiators and Mixed Aluminum Turnings.

The prices of E.C.Aluminum Wire, 6063 Extrusions, Litho Sheets, Painted Siding, 1100 Scrap, 3003 Scrap, 356 Aluminum Wheels (Clean), 5052 Scrap, 6061 Extrusions, 6063 Extrusions/Fe, Chrome Wheels, MLC Clips, Old Cast, Old Sheet, UBC and Zorba 90% NF too recorded increase over the previous week.

Meantime, Aluminum Radiators, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery prices held steady over the prior week.

USA Midwest Prices

The prices reported notable increase when compared with the week before.

Al/Cu Radiators/Fe surged from $1.44 per Lb at the beginning of the week to close at $1.48 per Lb.

The Al/Cu Radiators prices witnessed 2.41% weekly surge, recording a rise from $1.66 per Lb to $1.70 per Lb during the week ended 4^th July, 2024. The weekly price chart of the commodity is provided below:

Mixed Aluminum Turnings were up by 2.04% on a weekly basis.

All other scrap categories, with the exception of Aluminum Radiators, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery, recorded surge in prices over the week.

USA West Coast Prices

The regional prices of all scrap aluminum categories, except a few, posted week-on-week surge.

Al/Cu Radiators/Fe, Al/Cu Radiators and Mixed Aluminum Turnings recorded the highest surge.

The Al/Cu Radiators/Fe prices edged higher by $0.04 per Lb to close at $1.51 per Lb on Index. The commodity recorded week-on-week price surge by 2.68%.

Al/Cu Radiators surged from $1.70 per Lb at the beginning of the week to close at $1.74 per Lb.

The Mixed Aluminum Turnings prices inched higher by 2% over the previous week. The prices of the commodity surged higher by $0.01 when compared with the prior week. The chart provided below depicts the weekly price movement in Mixed Aluminum Turnings:

5052 Scrap surged the least, with prices recording marginal week-on-week increase by 0.98%.

Meantime, Aluminum Radiators, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery held steady upon comparison with the previous week.

China Prices

The aluminum scrap prices in the region reported modest surge during the week ended 4^th July, 2024.

The prices of Aluminum Transformers surged the most. The prices of the commodity registered increase by 1.08%, rising from CNY 9,300 per MT to CNY 9,400 per MT over the previous week.

The weekly price chart of Aluminum Transformers is provided below:

The prices of Aluminum Radiators and Zorba 90% NF too declined by 1.03% and 1.02% respectively.

Old Cast and Old Sheet prices edged higher by 0.84% each.

6063 Extrusions prices too were up by 0.83%, to close at CNY 18,150 per MT as on 4^th July, 2024.

The prices of E.C. Aluminum Wire, Aluminum ingots, and UBC too soared on Index.

India Prices

The Aluminum utensil scrap prices witnessed surge by 3.23% from the prior week. 

The Aluminum ingots prices too were up, registering a week-on-week increase by 3.10%.

The weekly 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) witnessed no change during the week.

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,541.00 per tonne as on 4^th July, 2024. The LME Aluminum Cash Settlement contract recorded marginal increase from $2,487.00 a day before to $2,493.50 per tonne.

The LME Aluminum stocks declined modestly over the previous day to close at 1,004,825 tonnes on 4^th July, 2024, as compared with 1,009,825 tonnes a day before.

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