Aluminum Scrap Prices: Weekly Market Report- October 4, 2024

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide aluminum scrap metal markets for the past one-week period (September, 27 to October 3, 2024) on the Scrap Monster Price Index are provided below:

North America Prices

The regional aluminum scrap prices witnessed increase over the prior week. However, a few commodities held steady.

The prices of Breakage 50% Recovery, Mixed Aluminum Turnings, and E.C. Aluminum Wire reported the largest increase on the Index.

Prices for Breakage 50% Recovery increased by 2.78% from the previous week. From $0.36 per pound at the beginning of the week, prices increased by $0.01 per pound to close at $0.37 per pound on the Index.

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

The price of Mixed Aluminum Turnings and E.C. Aluminum Wire increased as well, by 1.96% and 1.72%, respectively.

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

USA East Coast Prices

The regional scrap aluminum prices mostly edged higher when compared with the prior week. The top three gainers were Breakage 50% Recovery, Mixed Aluminum Turnings, and E.C. Aluminum Wire.

The prices of  6063 Extrusions, 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,  and Zorba 90% NF too recorded increase over the previous week.

In the meantime, Aluminum Radiators, Al/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe, and Aluminum Transformers prices held steady over the prior week.

USA Midwest Prices

The prices reported increase when compared with the week before.

The price of Breakage 50% Recovery increased 2.86% during the course of the week, from $0.35 per pound at the start of the week to $0.36 per pound at the close.

The prices of Mixed Aluminum Turnings increased by 2% on a weekly basis, from $0.50 per pound to $0.51 per pound in the week that ended on October 3, 2024. Below is the weekly price chart for the commodity:

E.C. Aluminum Wire prices were up by 1.72% on a weekly basis.

All other scrap categories saw price increases during the course of the week, with the exception of Aluminum Radiators, Al/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe, and Aluminum Transformers.

USA West Coast Prices

The regional prices of all scrap aluminum categories, except a few, posted week-on-week jump.

Breakage 50% Recovery, Mixed Aluminum Turnings, and E.C. Aluminum Wire recorded the highest jump in prices during the week.

The prices of Breakage 50% Recovery on the Index closed at $0.38 per pound, up $0.01 per pound. The commodity saw an increase of 2.70% in price week over week.

Mixed Aluminum Turnings prices increased from $0.51 per Lb at the beginning of the week to close at $0.52 per Lb.

Prices for E.C. Aluminum Wire increased by 1.72% from the previous week. The commodity's price increased by $0.02 over the previous week. The weekly price movement for E.C. Aluminum Wire is seen in the chart below:

5052 Scrap witnessed the least increase, with prices recording nominal week-on-week rise by 0.95%.

In the meantime, prices of Aluminum Radiators, Al/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe, and Aluminum Transformers held steady upon comparison with the previous week’s price.

China Prices

The aluminum scrap commodities in the region reported no variation in prices during the week ending October 3, 2024.

6063 Extrusions prices were unchanged at CNY 18,150 per MT. Also, Aluminum Radiators, E.C. Aluminum Wire, and Aluminum Transformers recorded no change in prices over the prior week.

Old Sheet and Old Sheet prices were flat on the Index.

UBC prices closed the week at CNY 12,450 per MT, unchanged upon comparison with the previous week’s price. The weekly price fluctuation in UBC is seen in the chart below:

The other scrap categories that recorded no change in weekly prices include Zorba 90% NF and Aluminum ingots.

India Prices

The Aluminum utensil scrap prices witnessed increase by 1.31% from the prior week. The weekly price chart of Aluminum utensil scrap is provided below:  

The Aluminum ingots prices too were up, registering a week-on-week increase by 1.26%.

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

The closing price of LME Aluminum 3-Month contract stood at USD 2,643.50 per tonne as of October 3, 2024. The LME Aluminum Cash Settlement contract recorded marginal increase from $2,635.00 a day before to $2,638.00 per tonne.

The LME Aluminum stocks declined modestly over the previous day to close at 785,450 tonnes as of October 3, 2024, as compared with 787,950 tonnes a day before.

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