Aluminum Scrap Prices: Weekly Market Report- May 31st, 2024

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (24^th to 30^th May, 2024) on the Scrap Monster Price Index are provided below:

North America Prices

The prices witnessed mixed trend over the prior week. All of the scrap commodities in the region, except Al/Cu Radiators, Al/Cu Radiators/Fe, E.C. Aluminum Wire, Breakage 50% Recovery and Aluminum Radiators maintained their previous week’s price level.

The Breakage 50% Recovery prices surged the most, recording a jump by 2.7% over the previous week. The prices increased by $0.01 per Lb from $0.37 per Lb during the prior week to $0.38 per Lb during the week ended 30^th May, 2024.

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

 All other scrap commodities witnessed no change in prices over the prior week.

USA East Coast Prices

The regional scrap aluminum prices displayed mixed trend during the week ended 30^th May, 2024.

The only gainers in terms of prices were Al/Cu Radiators, Al/Cu Radiators/Fe, E.C. Aluminum Wire, Breakage 50% Recovery and Aluminum Radiators.

The prices of 6063 Extrusions, Litho Sheets, Painted Siding, 1100 Scrap, 3003 Scrap, 356 Aluminum Wheels (Clean), 5052 Scrap, 6061 Extrusions and 6063 Extusions/Fe held steady on Index.

Also, no variation is prices were reported in Chrome Wheels, Mixed Aluminum Turnings, MLC Clips, Old Cast, Old Sheet, UBC, Zorba 90% NF, Aluminum Radiators/Fe and Aluminum Transformers during the week.

USA Midwest Prices

Only Al/Cu Radiators, Al/Cu Radiators/Fe, E.C. Aluminum Wire, Breakage 50% Recovery and Aluminum Radiators reported increase in prices over the previous week.

The prices of Breakage 50% Recovery and Aluminum Radiators surged the most. The prices of Breakage 50% Recovery were up by 2.78% during the week, followed by Aluminum Radiators which recorded a surge in prices by 2.56% upon comparison with the prior week.

The Aluminum Radiators prices registered week-on-week decline from $0.39 per Lb at the beginning of the week to end the week at $0.40 per Lb.

The weekly price chart of Aluminum Radiators is provided below:

All other scrap commodities held steady on Index over the prior week.

 USA West Coast Prices

The regional scrap aluminum prices witnessed mixed trend during the week ended 30^th May, 2024.

The top three gainers in prices over the prior week were Breakage 50% Recovery, Aluminum Radiators and Al/Cu Radiators/Fe.

The Breakage 50% Recovery and Aluminum Radiators prices surged higher by 2.63% and 2.50% respectively.

The prices of Al/Cu radiators/Fe increased by 2.03% week-on-week. The prices at the start of the week was $1.48 per Lb, whereas it ended the week at $1.51 per Lb.

The below chart represents the weekly price movement in Al/Cu radiators/Fe.

The prices of 6063 Extrusions, Litho Sheets, Painted Siding, 1100 Scrap, 3003 Scrap, 356 Aluminum Wheels (Clean), 5052 Scrap, 6061 Extrusions and 6063 Extusions/Fe held steady on Index.

Also, no variation is prices were reported in Chrome Wheels, Mixed Aluminum Turnings, MLC Clips, Old Cast, Old Sheet, UBC, Zorba 90% NF, Aluminum Radiators/Fe and Aluminum Transformers during the week.

China Prices

The aluminum scrap prices in the region recorded surge upon comparison with the previous week. The prices of Old Cast and Old Sheet witnessed significant jump in prices over the week, recording surge by 3.81% each.

The Old Sheet prices were up from CNY 18,350 per MT at the start of the week to close the week at CNY 19,050 per MT. The below graph depicts the weekly price movement in Old Sheet.

The prices of Old Cast too were up from CNY 18,350 per MT to CNY 19,050 per MT over the week, as is shown below in the weekly price chart of the commodity.

The other notable gainers were 6063 Extrusions, E.C. Aluminum Wire and Aluminum Ingots.

The prices of Aluminum Radiators, Aluminum Transformers, UBC and Zorba 90% INF too increased over the previous week.

India Prices

The Aluminum utensil scrap prices increased from INR 232,000 per Ton to INR 240,000 per Ton over the week, thus translating to 3.45% weekly surge. The price chart of Aluminum utensil scrap for the week is as follows:

Similarly, Aluminum ingots prices too were up by 3.32%, rising from INR 241,000 per Ton to INR 249,000 per Ton.

Europe Prices

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

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,710.50 per tonne as on 30^th May, 2023. The LME Aluminum Cash Settlement contract edged lower marginally from $2,695.00 a day before to $2,665.50 per tonne.

The LME Aluminum stocks remained unchanged over the day to close at 1,120,050 tonnes on 30^th May, 2024.

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