Aluminum Scrap Prices: Weekly Market Report- October 25, 2024

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (October, 18 to October 24, 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, except a few, recorded decline when compared with the previous week. E.C. Aluminum Wire prices edged higher, while Breakage 50% Recovery and Mixed Aluminum Turnings held steady on the Index.

The largest price drop of the week was seen in Aluminum Transformers, which recorded a decrease from $0.19 per pound to $0.18 per pound. The commodity saw a 5.26% weekly price decrease. Aluminum Radiators/Fe and Aluminum Radaitors had a slight decrease in price as well, falling by 4.76% and 3.13%, respectively.

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

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, and Zorba 90% NF 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 5.26% decline from $0.19 per Lb to $0.18 per Lb. Also, modest weekly declines by 4.76% and 3.13% were seen in Aluminum Radiators/Fe and Aluminum Radiators.

The rest of the scrap aluminium categories, except a few, recorded week-over-week decline. Breakage 50% Recovery and Mixed Aluminum Turnings were unchanged on the Index. E.C. Aluminum Wire prices edged higher marginally by 0.88%.

The least declines were seen in 5052 Scrap, 6063 Extrusions, and Litho Sheets.

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 Aluminum Radiators.

The Aluminum Transformers prices ended the week at $0.17 per Lb, down from the previous week’s price of $0.18 per Lb.

Also, the week witnessed dip in prices of Aluminum Radiators/Fe and Aluminum Radiators to $0.19 per Lb and $0.30 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 of majority of scrap aluminum categories 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 5% and 4.55% respectively over the previous week. Aluminum Transformers prices recorded fall from $0.20 per Lb to $0.19 per Lb, whereas Aluminum Radiators/Fe prices dropped from $0.22 per Lb to $0.21 per Lb.

Aluminum Radiators prices were down by 3.13% on the Index during the week ended October 24, 2024. The below chart provides weekly price movement in Aluminum Radiators:

Breakage 50% Recovery and Mixed Aluminum Turnings prices recorded no change on the Index.

In contrast, E.C. Aluminum Wire prices edged higher over the previous day’s prices.

China Prices

The Chinese aluminum scrap prices inched higher over the week.

Old Cast saw its prices increase from CNY 18,150 per MT to CNY 18,600 per MT during the week.

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

Old Sheet prices too were up by 2.48%, rising from CNY 18,150 per MT at the start of the week to end the week at CNY 18,600 per MT. The weekly price variation in Old Sheet is provided in the below graph:

Also, 6063 Extrusions prices increased from CNY 18,350 a week before to CNY 18,800, rising by 2.45% 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 increase.

India Prices

The prices of scrap aluminum utensils saw a little increase of 1.32%, edging higher to INR 231,000 a tonne during the week ending on October 24, 2024.

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

The prices of Aluminum ingots also were up by 1.27% 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 2,677.00 per tonne as of October 24, 2024. The LME Aluminum Cash Settlement contract inched higher from $2,625.00 a day before to $2,643.00 per tonne.

The LME Aluminum stocks declined over the previous day to close at 750,350 tonnes on October 24, 2024, down slightly from 752,850 tonnes on October 23, 2024.

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