Aluminum Scrap Prices: Weekly Market Report- May 17th, 2024

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (10^th May to 16^th May, 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 Breakage 50% Recovery, Aluminum Radiators and 6063 Extrusions recorded the biggest surge on Index.

The Breakage 50% Recovery prices recorded an increase by 2.86% over the previous week. The prices edged higher by $0.01 per Lb to close at $0.36 per Lb on Index.

The chart below represents the price movement in Breakage 50% Recovery during the past week:

The prices of Aluminum Radiators and 6063 Extrusions too witnessed notable surge, with prices inching higher by 2.50% and 2.20% respectively.

The only aluminum scrap commodities to maintain previous week price levels were Aluminum Radiators/Fe and Aluminum Transformers.

USA East Coast Prices

The regional scrap aluminum prices edged higher when compared with the prior week. The top three gainers were Breakage 50% Recovery, Aluminum Radiators and 6063 Extrusions.

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

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

USA Midwest Prices

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

Breakage 50% Recovery surged from $0.34 per Lb from the beginning of the week to close at $0.35 per Lb.

The Aluminum Radiators prices witnessed 2.569% weekly surge, recording a rise from $0.39 per Lb to $0.40 per Lb during the week ended 16^th May, 2024. The weekly price chart of the commodity is provided below:

 6063 Extrusions were up by 2.25% on a weekly basis.

All other scrap categories, with the exception of Aluminum Radiators/Fe and Aluminum Transformers too 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.

Breakage 50% Recovery, Aluminum Radiators and 6063 Extrusions recorded the highest surge.

The chart provided below depicts the weekly price movement in 6063 Extrusions:

MLC Clips surged the least, with prices recording week-on-week increase by 1.19%.

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

China Prices

The aluminum scrap prices in the region witnessed mixed trend during the week ended 16th May, 2024.

The prices of Aluminum Transformers increased the most. The prices of the commodity registered jump by 0.53%, rising from CNY 9,500 per MT to CNY 9,550 per MT over the previous week.

The weekly price chart of Aluminum Transformers is provided below:

The prices of Aluminum Radiators, UBC and Zorba 90% NF too edged higher week-on-week.

Meantime, 6063 Extrusions, E.C. Aluminum Wire, Aluminum Ingots, Old Cast and Old Sheet prices witnessed no change from the prior week.

India Prices

The Aluminum utensil scrap prices witnessed surge by 3.14% from the prior week. 

The Aluminum ingots prices too were up, registering a week-on-week increase by 3.02%.

The weekly price chart of Aluminum ingots 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 2,594.50 per tonne as on 16^th May, 2024. The LME Aluminum Cash Settlement contract edged higher nominally from $2,529.50 a day before to $2,538.50 per tonne.

The LME Aluminum stocks increased modestly over the previous day to close at 1,093,275 tonnes on 16^th May, 2024, as compared with 1,033,450 tonnes a day before.

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