Aluminum Scrap Prices: Weekly Market Report- July 12th, 2024

SEATTLE (Scrap Monster): The weekly price trends of scrap aluminium across worldwide markets for the period from 5^th July to 11^th July, 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.

E.C. Aluminum Wire recorded biggest decline in prices over the week, edging down from $1.13 per Lb to $1.10 per Lb. The prices of Mixed Aluminum Turnings and 6063 Extrusions/Fe too recorded significant decline, falling by 1.96% and 1.49% respectively.

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

Meantime, 5052 Scrap, Al/Cu Radiators, MLC Clips, 6063 Extrusions, Litho Sheets, 1100 Scrap, 3003 Scrap and 356 Aluminum Wheels (Clean) recorded least decline in prices over the week.

USA East Coast Prices

E.C. Aluminum Wire prices recorded biggest dip over the week, registering 2.65% decline from $1.13 per Lb to $1.10 per Lb. A notable weekly decline by 1.96% and 1.49% was seen in Mixed Aluminum Turnings and 6063 Extrusions/Fe prices.

The scrap aluminium categories that recorded nominal decline in prices included 5052 Scrap, Al/Cu Radiators, MLC Clips, 6063 Extrusions, Litho Sheets, 1100 Scrap, 3003 Scrap and 356 Aluminum Wheels (Clean).

Meantime, prices of Aluminum Radiators, 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 E.C. Aluminum Wire, Mixed Aluminum Turnings and 6063 Extrusions/Fe.

The E.C. Aluminum Wire prices ended the week at $1.10 per Lb, down from the previous week price of $1.13 per Lb.

Also, the week witnessed dip in prices of Mixed Aluminum Turnings and 6063 Extrusions/Fe to $0.49 per Lb and $0.65 per Lb respectively.

The weekly price chart of Mixed Aluminum Turnings 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 E.C. Aluminum Wire and Mixed Aluminum Turnings, whose prices recorded sharp decline by 2.65% and 1.96% respectively over the previous week. 6063 Extrusions/Fe prices recorded fall from $0.68 per Lb to $0.67 per Lb.

The below chart provides weekly price movement in 6063 Extrusions/Fe:

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

China Prices

The Chinese aluminum scrap prices inched lower over the week.

Aluminum Transformers scrap saw its prices decline from CNY 9,350 per MT to CNY 9,250 per MT during the week.

The chart provided below depicts the weekly price variation in Aluminum Transformers:

Aluminum Radiators and Zorba 90% NF prices too were down by 1.03% and 1.02% respectively.

Meantime, UBC prices dipped from CNY 12,500 a week before to CNY 12,400, falling by 0.80% over the week.

The prices of 6063 Extrusions, E.C. Aluminum Wire, Aluminum Ingots, Old Cast and Old Sheet too registered week-on-week decline.

India Prices

The Aluminum utensil scrap prices recorded decline by 2.21%, falling to INR 221,000 per Ton during the week ended 11^th July, 2024.

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

The prices of Aluminum ingots too were down by 2.13% 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 2,490.50 per tonne as on 11^th July, 2024. The LME Aluminum Cash Settlement contract inched lower from $2,432.00 a day before to $2,428.50 per tonne.

The LME Aluminum stocks declined over the previous day to close at 982,000 tonnes on 11th July, 2024, as compared with 987,025 tonnes on 10^th July, 2024.

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