Aluminum Scrap Prices: Weekly Market Report- Jan 26th, 2024
The LME Aluminum Cash Settlement contract edged lower marginally from $2,207.50 a day before to $2,188.50 per tonne.
SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (19th to 25th January, 2024) on the Scrap Monster Price Index are provided below:
The prices witnessed notable increase over the prior week.
The prices of Mixed Aluminum Turnings, 6063 Extrusions/Fe and 6061 Extrusions surged the most.
The Mixed Aluminum Turnings prices recorded an increase by 4.65% over the previous week. The prices edged higher by $0.02 per Lb to close at $0.45 per Lb on Index. The chart below represents the price movement in Mixed Aluminum Turnings during the past week:
The prices of 6063 Extrusions/Fe and 6061 Extrusions too witnessed notable surge, with prices going higher by 3.39% and 3.23% respectively.
A few scrap varieties such as Al/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery witnessed no change in prices over the prior week.
The regional scrap aluminum prices edged higher when compared with the prior week. The top three gainers were Mixed Aluminum Turnings, 6063 Extrusions/Fe and 6061 Extrusions.
The prices of 6063 Extrusions and 5052 Scrap recorded nominal surge in prices, rising by 2.56% and 2.20% respectively.
The prices of Al/Cu Radiators/Fe, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery held steady on Index.
The prices reported significant increase when compared with the week before.
Mixed Aluminum Turnings prices surged from $0.43 per Lb from the beginning of the week to close at $0.45 per Lb.
The 6063 Extrusions/Fe prices witnessed 3.45% weekly surge, witnessing a rise from $0.58 per Lb to $0.60 per Lb during the week ended 25th January, 2024.
The weekly price chart of 6063 Extrusions/Fe is provided below:
The regional prices of all scrap aluminum categories, except Al/Cu Radiators/Fe, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery posted week-on-week surge.
Please find below the weekly price variation in 6061 Extrusions.
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 200 per MT over the prior week, translating to a week-on-week surge of 1.24%.
The weekly price charts of Old Cast and Old Sheet scrap are provided below:
The 6063 Extrusions prices too edged higher by 1.23%, rising from CNY 16,300 per MT during the previous week to CNY 16,500 per MT this week.
The least weekly increase in prices was reported in UBC, whose prices edged higher by 0.85% week-on-week.
The Aluminum utensil scrap prices edged higher from INR 188,000 per ton during the start of the week to INR 191,000 per ton on 25th January, 2024. A similar increase by INR 3,000 per ton was recorded in Aluminum ingots prices over the week.
The price chart of Aluminum ingots scrap over the prior week is as follows:
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 2,230.00 per tonne as on 25th January, 2024. The LME Aluminum Cash Settlement contract edged lower marginally from $2,207.50 a day before to $2,188.50 per tonne.
The LME Aluminum stocks declined over the previous day to close at 545,050 tonnes on 25th January, 2024, as compared with 546,325 a day before.