Aluminum Scrap Prices: Weekly Market Report- 10th May, 2024

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (3^rd to 9^th May, 2024) on the Scrap Monster Price Index are provided below:

North America Prices

The prices witnessed mixed trend over the prior week. All of the scrap commodities in the region, except E.C. Aluminum Wire, maintained their previous week’s price level.

The E.C. Aluminum Wire prices recorded a decline by 0.88% over the previous week. The prices declined by $0.01 per Lb from $1.14 per Lb during the prior week to $1.13 per Lb during the week ended 9^th Mayt, 2024.

The chart below represents the price movement in E.C. Aluminum Wire during the past week:

All other scrap commodities witnessed no change in prices over the prior week.

USA East Coast Prices

The regional scrap aluminum prices displayed mixed trends during the week ended 9th May, 2024.

The only loser in terms of prices was E.C. Aluminum Wire, which recorded week-on-week decline by 0.88%.

The prices of 6063 Extrusions, Aluminum Radiators, Litho Sheets, Painted Siding, 1100 Scrap, 3003 Scrap, 356 Aluminum Wheels (Clean), 5052 Scrap, 6061 Extrusions and 6063 Extusions/Fe held steady on Index.

Also, no variation is prices were reported in Al/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe, Aluminum Transformers, Breakage 50% Recovery, Chrome Wheels, Mixed Aluminum Turnings, MLC Clips, Old Cast, Old Sheet, UBC and Zorba 90% NF during the week.

USA Midwest Prices

Only E.C. Aluminum Wire reported decline in prices over the previous week. The prices of the commodity registered week-on-week decline by 0.88%, from $1.14 per Lb at the beginning of the week to end the week at $1.13 per Lb.

All other scrap commodities witnessed no change on Index over the prior week.

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

USA West Coast Prices

The regional scrap aluminum prices witnessed mixed trend during the week ended 9th May, 2024.

The only scrap commodity to witness dip in prices was E.C. Aluminum Wire, which recorded decline by 0.88%, upon comparison with the prior week.

The prices of 6063 Extrusions, Aluminum Radiators, Litho Sheets, Painted Siding, 1100 Scrap, 3003 Scrap, 356 Aluminum Wheels (Clean), 5052 Scrap, 6061 Extrusions and 6063 Extusions/Fe held steady on Index.

Also, no change is prices were reported in Al/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe, Aluminum Transformers, Breakage 50% Recovery, Chrome Wheels, Mixed Aluminum Turnings, MLC Clips, Old Cast, Old Sheet, UBC and Zorba 90% NF during the week.

The below chart represents the weekly price movement in Zorba 90% NF.

China Prices

The aluminum scrap prices in the region declined upon comparison with the previous week. The prices of Aluminum Transformers dipped most, falling by 0.53% over the week. The prices, which opened the week at CNY 9450 per MT, ended the week at CNY 9,400 per MT.

The below graph depicts the weekly price movement in Aluminum Transformers.

Also, edged higher by 1.24% from CNY 16,150 per MT to CNY 16,350 per MT during the week.

All other scrap commodities, including 6063 Extrusions, Aluminum Radiators, E.C. Aluminum Wire, Aluminum Ingots, Old Cast, Old Sheet, UBC and Zorba 90% NF recorded decline in prices, upon comparison with the week before.

India Prices

The Aluminum utensil scrap prices held steady at INR 223,000 per ton during the week ended 9th May, 2024. Similarly no change in prices were seen in Aluminum ingots too over the week.

The price chart of Aluminum ingots for the week is as follows:  

Europe Prices

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

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,541.00 per tonne as on 9^th May, 2023. The LME Aluminum Cash Settlement contract inched higher marginally from $2,488.00 a day before to $2,494.00 per tonne.

The LME Aluminum stocks declined over the previous day to close at 479,850 tonnes on 9th May, 2024, as compared with 482,600 a day before.

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