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Market Reports May 03, 2024 01:10:33 PM

Aluminum Scrap Prices: Weekly Market Report- 3rd May, 2024

Paul Ploumis
ScrapMonster Author
The LME Aluminum Cash Settlement contract dipped lower marginally from $2,554.50 a day before to $2,510.00 per tonne.

Aluminum Scrap Prices: Weekly Market Report- 3rd May, 2024

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (26th April to 2nd May, 2024) on the Scrap Monster Price Index are provided below:

North America Prices

The prices, in general, witnessed decline over the prior week. A few commodities held steady, while the remaining reported marginal increase.

The prices of Breakage 50% Recovery, Mixed Aluminum Turnings and Zorba 90% NF declined the most.

The Breakage 50% Recovery prices recorded decline by 5.26% over the previous week. The prices inched lower by $0.02 per Lb to close at $0.36 per Lb on Index. The chart below represents the price movement in Breakage 50% Recovery during the past week:

 

The prices of Mixed Aluminum Turnings and Zorba 90% NF too witnessed notable decline, with prices going lower by 3.64% and 2.63% respectively.

A few scrap varieties such as Aluminum Radiators, Aluminum Radiators/Fe and Aluminum Transformers witnessed no change in prices over the prior week.

Meantime, Al/Cu Radiators and Al/Cu Radiators/Fe edged higher over the week.

 

USA East Coast Prices

The regional scrap aluminum prices mostly inched lower when compared with the prior week. The top three losers were Breakage 50% Recovery, Mixed Aluminum Turnings and Zorba 90% NF.

The prices of Al/Cu Radiators and Al/Cu Radiators/Fe increased over the previous week, recording rise by 1.28% and 1.48% respectively.

The prices of Aluminum Radiators, Aluminum Radiators/Fe and Aluminum Transformers held steady on Index.

USA Midwest Prices

The prices of most commodities witnessed decline when compared with the week before.

Breakage 50% Recovery prices declined from $0.37 per Lb from the beginning of the week to close at $0.35 per Lb, registering week-on-week decline by 5.41%.

The Mixed Aluminum Turnings prices witnessed 3.64% weekly dip, witnessing a fall from $0.55 per Lb to $0.53 per Lb during the week ended 2nd May, 2024.

The weekly price chart of Mixed Aluminum Turnings is provided below:

 

The Zorba 90% NF prices too were down by 2.67% over the previous week.

Aluminum Radiators, Aluminum Radiators/Fe and Aluminum Transformers witnessed no change in prices over the prior week.

Meantime, Al/Cu Radiators and Al/Cu Radiators/Fe edged higher over the week.

 

USA West Coast Prices

The prices of Breakage 50% Recovery, Mixed Aluminum Turnings and Zorba 90% NF declined the most.

A few scrap varieties such as Aluminum Radiators, Aluminum Radiators/Fe and Aluminum Transformers witnessed no change in prices over the prior week.

Meantime, Al/Cu Radiators and Al/Cu Radiators/Fe edged higher over the week. The largest price increase was reported in Al/Cu Radiators/Fe, which saw its prices rising from $1.39 per Lb to $1.41 per Lb during the week, translating to a weekly increase of 1.44%

Please find below the weekly price variation in Al/Cu Radiators/Fe.

 

China Prices

The Chinese scrap metal prices held steady on Index.

6063 Extrusions, Aluminum Radiators and E.C. Aluminum Wire prices witnessed no change during the previous week.

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

Aluminum Ingots and Aluminum Transformers prices were flat on Index.

Also, Old Cast, Old Sheet, UBC and Zorba 90% NF prices recorded no change in prices.

India Prices

The Aluminum utensil scrap prices inched lower from INR 243,000 per ton during the start of the week to INR 236,000 per ton on 2nd May, 2024. A similar decline by INR 7,000 per ton was recorded in Aluminum ingots prices over the week.

The price chart of Aluminum utensil scrap over the prior week 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 2,553.50 per tonne as on 2nd May, 2024. The LME Aluminum Cash Settlement contract dipped lower marginally from $2,554.50 a day before to $2,510.00 per tonne.

The LME Aluminum stocks held steady over the previous day at 489,250 tonnes on 2nd May, 2024.

 

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