Aluminum Scrap Prices: Weekly Market Report- October 18, 2024

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (October, 11 to October 17, 2024) on the Scrap Monster Price Index are provided below:

North America Prices

There was a general downward tendency in the prices. All scrap categories recorded decline when compared with the previous week.

The largest price drop of the week was seen in Aluminum Transformers, which recorded a decrease from $0.20 per pound to $0.19 per pound. The commodity saw a 5% weekly price decrease. Aluminum Radiators/Fe and Mixed Aluminum Turnings had a slight decrease in price as well, falling by 4.55% and 3.92%, respectively.

The following chart shows the week-over-week price fluctuation for Aluminum Transformers:

Aluminum Radiators, Breakage 50% Recovery, Litho Sheets, 1100 Scrap, 3003 Scrap, 356 Aluminum Wheels (Clean), 6063 Extrusions/Fe, MLC Clips, 6063 Extrusions, Painted Siding, 6061 Extrusions, Chrome Wheels, Old Cast, Old Sheet, UBC, Zorba 90% NF and E.C. Aluminum Wire prices reported decline over the previous week.

In addition, 5052 Scrap, Al/Cu Radiators and Al/Cu Radiators/Fe too witnessed marginal decline in prices.

USA East Coast Prices

Aluminum Transformers prices recorded biggest dip over the week, registering 5% decline from $0.20 per Lb to $0.19 per Lb. Also, modest weekly declines by 4.55% and 3.92% were seen in Aluminum Radiators/Fe and Mixed Aluminum Turnings.

The rest of the scrap aluminium categories also recorded week-over-week decline.

The least declines were seen in 5052 Scrap, Al/Cu Radiators and Al/Cu Radiators/Fe.

USA Midwest Prices

The aluminium scrap prices in the region mostly 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 $0.18 per Lb, down from the previous week’s price of $0.19 per Lb.

Also, the week witnessed dip in prices of Aluminum Radiators/Fe and Mixed Aluminum Turnings to $0.20 per Lb and $0.48 per Lb respectively.

Below is the weekly pricing chart for Aluminum Radiators/Fe.

Aluminum Radiators prices were down by 3.13% over the prior week. The prices of 6063 Extrusions/Fe and 6061 Extrusions registered decline by 2.94% and 2.82% respectively.

USA West Coast Prices

The region's prices for scrap aluminum continued to fall week over week.

The scrap categories to dip the most were Aluminum Transformers and Aluminum Radiators/Fe, whose prices recorded declines by 4.76% and 4.35% respectively over the previous week. Mixed Aluminum Turnings prices recorded fall from $0.51 per Lb to $0.49 per Lb, recording week-over-week decline of 3.92%.

Aluminum Radiators prices were down by 3.03% on the Index during the week ended October 17, 2024. The below chart provides weekly price movement in Aluminum Radiators:

5052 Scrap, Al/Cu Radiators and Al/Cu Radiators/Fe were the scrap categories which recorded least declines. 

China Prices

The Chinese aluminum scrap prices inched lower over the week.

Old Cast saw its prices decline from CNY 18,350 per MT to CNY 18,050 per MT during the week.

The weekly price fluctuation in Old Cast is seen in the chart below:

Old Sheet prices too were down by 1.63%, falling from CNY 18,350 per MT at the start of the week to end the week at CNY 18,050 per MT. The weekly price variation in Old Sheet is provided in the below graph:

Also, 6063 Extrusions prices dipped from CNY 18,550 a week before to CNY 18,250, falling by 1.62% over the week.

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

India Prices

The prices of scrap aluminum utensils saw a little decrease of 1.72%, coming down to INR 228,000 a tonne in the week ending on October 17, 2024.

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

The prices of Aluminum ingots also were down by 1.66% during the week.

Europe Prices

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

LME Aluminum Market Update

The closing price of LME Aluminum 3-Month contract stood at USD 2,564.00 per tonne as of October 17, 2024. The LME Aluminum Cash Settlement contract inched lower from $2,557.50 a day before to $2,524.50 per tonne.

The LME Aluminum stocks declined over the previous day to close at 762,850 tonnes on October 17, 2024, down slightly from 765,350 tonnes on October 16, 2024.

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