Scrap Aluminum Prices: Weekly Market Report- 13th January, 2023

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (5^th to 12^th, January, 2023) on the Scrap Monster Price Index are provided below:

North America Prices

The prices witnessed notable increase over the prior week.

The prices of Mixed Aluminum Turnings, E.C. Aluminum Wire and 6063 Extrusions/Fe surged the most.

The Mixed Aluminum Turnings prices recorded an increase by 10.64% over the previous week. The prices edged higher by $0.05 per Lb to close at $0.52 per Lb on Index. The chart below represents the price movement in Mixed Aluminum Turnings during the past week:

The prices of 6061 Extrusions and Zorba 90% NF too witnessed notable surge, with prices going higher by 7.46% and 7.35% respectively.

Two scrap varieties- Aluminum Transformers and Aluminum Radiators/Fe witnessed no change in prices over the prior week.

USA East Coast Prices

The regional scrap aluminum prices edged higher when compared with the prior week. The top three gainers were Mixed Aluminum Turnings, E.C. Aluminum Wire and 6063 Extrusions/Fe.

The weekly price chart of E.C. Aluminum Wire is provided below:

The prices of Al/Cu Radiators and Al/Cu Radiators /Fe recorded nominal surge in prices, rising by 0.54% and 0.59% respectively. 

USA Midwest Prices

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

Mixed Aluminum Turnings prices surged from $0.47 per Lb from the beginning of the week to close at $0.52 per Lb.

The E.C. Aluminum Wire prices witnessed 8.04% weekly surge, witnessing a rise from $1.12 per Lb to $1.21 per Lb during the week ended 12^th January, 2023.

The chart given below depicts the weekly price movement in Al/Cu Radiators:

The other scrap categories to record notable surge in prices were 6063 Extrusions/Fe, Chrome Wheels, Zorba 90% NF and 6061 Extrusions.

USA West Coast Prices

The regional prices of all scrap aluminum categories, except Aluminum Radiators/Fe and Aluminum Transformers posted week-on-week surge.

Please find below the weekly price variation in Aluminum Transformers.

China Prices

Old Cast and Old Sheet prices increased the most during the previous week.

Both the above two scrap categories saw their prices surge by CNY 350 per MT over the prior week, translating to a week-on-week surge of 2.26%.

The 6063 Extrusions prices edged higher by 2.24%, whereas the prices of E.C. Aluminum Wire were up by 2.09%.

The weekly price chart for 6063 Extrusions is provided below:

India Prices

The Aluminum utensil scrap prices edged higher from INR 195,000 per ton during the start of the week to INR 204,000 per ton on 12^th January, 2023. A similar increase by INR 9,000 per ton was recorded in Aluminum ingots prices over the week.

The price chart of Aluminum utensil scrap is as follows:  

Europe Prices

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

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,476.00 per tonne as on 12^th January, 2023. The LME Aluminum Cash Settlement contract edged lower from $2,451.00 a day before to $2,447.00 per tonne.

The LME Aluminum stocks declined over the previous day to close at 408,875 tonnes on 12^th January, 2023, as compared with 413,700 a day before.

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