Aluminum Scrap Prices: Weekly Market Report- June 23rd, 2023

SEATTLE (Scrap Monster): The weekly price trends of scrap aluminium across worldwide markets for the past week (16^th June to 22^nd June, 2023) on the Scrap Monster Price Index are provided below:

North America Prices

The prices witnessed downward trend.

E.C. Aluminum Wire recorded biggest decline in prices over the week, edging down from $1.00 per Lb to $0.97 per Lb. The prices of Mixed Aluminum Turnings and 6063 Extrusions/Fe too recorded modest decline, falling by 2.33% and 1.69% respectively.

The chart provided below depicts the price movement in E.C. Aluminum Wire during the course of the week:

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

USA East Coast Prices

E.C. Aluminum Wire prices recorded biggest dip over the week, registering decline from $1.00 per Lb to $0.97 per Lb. A notable weekly decline by 2.33% and 1.69% was seen in Mixed Aluminum Turnings and 6063 Extrusions/Fe prices.

The scrap aluminium categories that recorded nominal decline in prices included 5052 Scrap, 6063 Extrusions, Litho Sheets, 1100 Scrap, 3003 Scrap, 356 Aluminum Wheels (Clean) and MLC Clips.

USA Midwest Prices

The aluminium scrap prices in the region mostly edged lower over the previous week. The top three losers were E.C. Aluminum Wire, Mixed Aluminum Turnings and 6063 Extrusions/Fe. The E.C. Aluminum Wire prices ended the week at $0.97 per Lb, down from the previous week price of $1.00 per Lb. Also, the week witnessed dip in prices of Mixed Aluminum Turnings and 6063 Extrusions/Fe to $0.42 per Lb and $0.57 per Lb respectively.

The chart provided below depicts the weekly price trend in Mixed Aluminum Turnings:

USA West Coast Prices

The aluminium scrap metal prices in the region remained weak, with prices of most categories recording week-on-week decline.

The scrap category to dip the most was E.C. Aluminum Wire, whose prices recorded fall from $1.00 per Lb to $0.97 per Lb. It was followed by Mixed Aluminum Turnings and 6063 Extrusions/Fe, which recorded price declines by 2.33% and 1.67% respectively.

The prices of 5052 Scrap, 6063 Extrusions, Litho Sheets, 1100 Scrap, 3003 Scrap, 356 Aluminum Wheels (Clean) and MLC Clips ended the week with minor downward changes, over the week.

Meantime, Al/Cu Radiators, Al/Cu Radiators/Fe, Breakage 50% Recovery, Aluminum Transformers, Aluminum Radiators/Fe and Aluminum Radiators recorded no change in prices when compared with the prior week.

Please find below the price movement in Al/Cu Radiators/Fe over the previous week:

China Prices

The Chinese aluminum scrap prices recorded decline across the board.

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

All the above two scrap categories saw their prices drop by CNY 250 per MT over the prior week, translating to a week-on-week decline of 1.54% each.

Please find below the weekly price variation in Old Cast:

Also, the chart provided below gives the price movement for Old Sheet during the past week:

6063 Extrusions posted a weekly decline by 1.53% during the week ended June 22^nd, 2023.

The rest of the scrap, including Aluminum Radiators, Aluminum Transformers, UBC, Zorba 90% NF, E.C. Aluminum Wire and Aluminum Ingots too recorded decline over the prior week.

India Prices

The Aluminum utensil scrap prices edged lower from INR 197,000 per ton during the start of the week to INR 193,000 per ton on 22^nd June, 2023. A similar dip by INR 4,000 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) held steady during the week.

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,234.00 per tonne as on 22^nd June, 2023. The LME Aluminum Cash Settlement contract surged higher from $2,157.00 a day before to $2,190.50 per tonne.

The LME Aluminum stocks declined over the previous day to close at 546,375 tonnes on 22nd June, 2023, as compared with 550,925 tonnes on 21^st June, 2023.

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