Aluminum Scrap Prices: Weekly Market Report- 9, June, 2023

SEATTLE (Scrap Monster): The weekly price trends of scrap aluminium across worldwide markets for the past week (2^nd June, 2023 to 8^th June, 2023) on the Scrap Monster Price Index are provided below:

North America Prices

The prices witnessed downward trend.

Mixed Aluminum Turnings recorded biggest decline in prices over the week, edging down from $0.45 per Lb to $0.43 per Lb. The prices of 6063 Extrusions/Fe and 6061 Extrusions too recorded significant decline, falling by 3.28% and 3.13% respectively.

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

Meantime, 5052 Scrap, 6063 Extrusions, Litho Sheets and MLC Clips recorded marginal decline in prices over the week.

USA East Coast Prices

Mixed Aluminum Turnings prices recorded biggest dip over the week, registering 4.44% decline from $0.45 per Lb to $0.43 per Lb. A notable week-on-week decline by 3.28% and 3.13% was seen in 6063 Extrusions/Fe and 6061 Extrusions prices.

The scrap aluminium categories that recorded nominal decline in prices included 5052 Scrap, 6063 Extrusions, Litho Sheets 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 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 $0.45 per Lb.

Also, the week witnessed dip in prices of 6063 Extrusions/Fe and 6061 Extrusions to $0.58 per Lb and $0.61 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 categories, except Aluminum Radiators, Al/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe, Aluminu8m Transformers and Breakage 50% Recovery, recording week-on-week decline.

The scrap category to dip the most was Mixed Aluminum Turnings, whose prices recorded fall from $0.45 per Lb to $0.43 per Lb. It was followed by 6063 Extrusions/Fe and 6061 Extrusions, which recorded price declines by 3.23% and 3.13% respectively.

The chart below provides weekly price movement in 6061 Extrusions:

Meantime, prices of 5052 Scrap, 6063 Extrusions, Litho Sheets and MLC Clips ended the week with minor downward changes, over the week.

China Prices

Aluminum Transformers prices dropped the most during the previous week. The commodity saw its prices drop from CNY 8,800 per MT to CNY 8,700 per MT each.

The weekly price chart of Aluminum Transformer scrap is given below.

All other scrap, including 6063 Extrusions, Aluminum Ingots, E.C. Aluminum Wire, Zorba 90% NF, UBC, Old Cast, Old Sheet and Aluminum Radiators reported decline on Index.

India Prices

The Aluminum utensil scrap prices edged lower from INR 201,000 per ton during the start of the week to INR 196,000 per ton on 8^th June, 2023. A similar fall by INR 5,000 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 2,227.00 per tonne as on 8^th June, 2023. The LME Aluminum Cash Settlement contract edged higher marginally from $2,169.00 a day before to $2,187.50 per tonne.

The LME Aluminum stocks declined slightly over the previous day to close at 582,125 tonnes on 8^th June, 2023, as compared with 589,450 tonnes on 7^th June, 2023.

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