Aluminum Scrap Prices: Weekly Market Report- 2nd August, 2024

SEATTLE (Scrap Monster): The weekly price trends of scrap aluminium across worldwide markets for the period from 26^th July to 1^st August, 2024 on the Scrap Monster Price Index are provided below:

North America Prices

The prices, in general, witnessed downward trend. However, a few categories held on to their previous week’s prices. Also some scrap categories surged over the previous week.

Mixed Aluminum Turnings recorded biggest decline in prices over the week, edging down from $0.45 per Lb to $0.44 per Lb. The prices of 6063 Extrusions/Fe and 6061 Extrusions too recorded significant decline, falling by 1.64% and 1.56% respectively.

The chart provided below depicts the price movement in Mixed Aluminum Turnings during the course of the week:

Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery prices recorded no change when matched with the previous week.

Meantime, Al/Cu Radiators and A/Cu Radiators/Fe prices surged higher during the week ended August 1^st, 2024.

USA East Coast Prices

Mixed Aluminum Turnings prices recorded biggest dip over the week, registering 2.22% decline from $0.45 per Lb to $0.44 per Lb. A notable weekly decline by 1.64% and 1.56% was seen in 6063 Extrusions/Fe and 6061 Extrusions.

The scrap aluminium categories that recorded nominal decline in prices included E.C. Aluminum Wire, 5052 Scrap, 1100 Scrap, 3003 Scrap, 356 Aluminum Wheels (Clean) and MLC Clips.

Meantime, prices of Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery held steady on Index.

USA Midwest Prices

The aluminium scrap prices in the region mostly edged lower over the previous week.  A few categories held steady, whereas a few others edged higher.

The top three losers were Mixed Aluminum Turnings, 6063 Extrusions/Fe and 6061 Extrusions.

The Mixed Aluminum Turnings prices ended the week at $0.43 per Lb, down from the previous week price of $0.44 per Lb.

Also, the week witnessed dip in prices of 6063 Extrusions/Fe and 6061 Extrusions to $0.59 per Lb and $0.62 per Lb respectively.

The weekly price chart of 6063 Extrusions/Fe is provided below:

USA West Coast Prices

The aluminium scrap metal prices in the region remained weak, with prices of all except a few categories recording week-on-week decline. Meantime, the prices of Al/Cu Radiators and Al/Cu Radiators/Fe bucked the trend, rising marginally over the previous week.

The scrap categories to dip the most were Mixed Aluminum Turnings and 6063 Extrusions/Fe, whose prices recorded sharp decline by 2.22% and 1.61% respectively over the previous week. 6061 Extrusions prices recorded fall from $0.64 per Lb to $0.63 per Lb.

The below chart provides weekly price movement in 6061 Extrusions:

Meantime, prices of Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery recorded no change over the week.

China Prices

The Chinese aluminum scrap prices reported mixed trend. Majority of scrap categories held steady, whereas a few recorded weekly jump in prices.

Aluminum Transformers scrap saw its prices surge from CNY 8,850 per MT to CNY 8,900 per MT during the week.

The chart provided below depicts the weekly price variation in Aluminum Transformers:

Aluminum Radiators and Zorba 90% NF prices too were up by 0.54% and 0.53% respectively.

Meantime, UBC prices increased from CNY 12,000 a week before to CNY 12,050, rising by 0.42% over the week.

The rest of the aluminum scrap categories in the region witnessed no variation in prices over the prior week.

India Prices

The Aluminum utensil scrap prices recorded surge by 2.0%, rising to INR 204,000 per Ton during the week ended 1^st August, 2024.

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

The prices of Aluminum ingots too were up by 1.91% during the week.

Europe Prices

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

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,287.00 per tonne as on 1^st August, 2024. The LME Aluminum Cash Settlement contract inched lower from $2,252.00 a day before to $2,228.50 per tonne.

The LME Aluminum stocks declined over the previous day to close at 929,325 tonnes on 1^st August, 2024, as compared with 933,125 tonnes on 31^st July, 2024.

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