Aluminum Scrap Prices: Weekly Market Report- July 19th, 2024

SEATTLE (Scrap Monster): The weekly price trends of scrap aluminium across worldwide markets for the past week (12^th July to 18^th July, 2024) on the Scrap Monster Price Index are provided below:

North America Prices

The prices witnessed downward trend.

Aluminum Transformers recorded the biggest decline in prices, falling by 4.76% over the week, edging down from $0.21 per Lb to $0.20 per Lb. The prices of Aluminum Radiators/Fe and Mixed Aluminum Turnings too recorded significant decline, falling by 4.35% and 4.00% respectively.

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

Meantime, E.C. Aluminum Wire, 6063 Extrusions/Fe, 6061 Extrusions, Breakage 50% Recovery, Zorba 90% NF and Chrome Wheels prices too registered notable week-on-week decline on ScrapMonster Index during the week ended 18^th July, 2024.

All other aluminum scrap categories too recorded decline over the previous week.

USA East Coast Prices

Aluminum Transformers prices recorded biggest dip by 4.76% over the week, registering decline from $0.21 per Lb to $0.20 per Lb. A notable weekly decline by 4.35% and 4.00% was seen in Aluminum Radiators/Fe and Mixed Aluminum Turnings prices.

The remaining scrap aluminium categories, including 6063 Extrusions, Aluminum Radiators, E.C. Aluminum Wire, 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, Zorba 90% NF, Al/Cu Radiators, Al/Cu Radiators/Fe too recorded dip in prices upon comparison with the previous week.

USA Midwest Prices

The aluminium scrap prices in the region edged lower over the previous week.

The top three losers were Aluminum Transformers, Aluminum Radiators/Fe and Mixed Aluminum Turnings.

The Aluminum Transformers prices ended the week at $0.19 per Lb, down from the previous week price of $0.20 per Lb. Also, the week witnessed dip in prices of Aluminum Radiators/Fe and Mixed Aluminum Turnings to $0.21 per Lb and $0.47 per Lb respectively.

The chart provided below depicts the weekly price trend in Aluminum Radiators/Fe:

USA West Coast Prices

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

The scrap category to dip the most was Aluminum Transformers, whose prices recorded fall from $0.22 per Lb to $0.21 per Lb. It was followed by Aluminum Radiators/Fe and Mixed Aluminum Turnings, which recorded price declines by 4% and 2.7% respectively.

Please find below the price movement in Mixed Aluminum Turnings over the previous week:

The prices of E.C. Aluminum Wire, 6063 Extrusions/Fe, 6061 Extrusions, Breakage 50% Recovery, Zorba 90% NF and Chrome Wheels ended the week with modest downward changes, over the week.

Meantime, the prices of all other commodities witnessed marginal declines over the prior week.

China Prices

The Chinese aluminum scrap prices inched lower over the week.

Old Cast and Old Sheet scrap saw their prices prices decline by CNY 250 per MT during the week.

The Old Cast prices dipped from CNY 17,500 per MT to CNY 17,250 per MT over the week. The chart provided below depicts the weekly price variation in Old Cast:

A similar dip in prices by 1.43% was recorded in Old Sheet, whose price variation over the prior week is provided in the below chart.

6063 Extrusions and E.C. Aluminum Wire prices too were down by 1.41% and 1.32% respectively.

Meantime, Aluminum Ingots prices dipped from CNY 19,950 per MT a week before to CNY 19,700 per MT, falling by 1.25% over the week.

The prices of Aluminum Radiators, Aluminum Transformers, UBC and Zorba 90% NF too registered week-on-week decline.

 India Prices

The Aluminum utensil scrap prices recorded decline by 2.73%, falling to INR 214,000 per Ton during the week ended 18^th July, 2024.

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

The prices of Aluminum ingots too were down 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

The closing price of LME Aluminum 3-Month contract stood at USD 2,397.00 per tonne as on 18^th July, 2024. The LME Aluminum Cash Settlement contract inched down marginally from $2,363 per tonne a day before to $2,335 per tonne.

The LME Aluminum stocks declined over the previous day to close at 963,825 tonnes on 18th July, 2024, as compared with 964,350 tonnes on 17^th July, 2024.

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