Aluminum Scrap Prices: Weekly Market Report- May 24th, 2024

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (17^th May to 23^rd May, 2024) on the Scrap Monster Price Index are provided below:

North America Prices

The prices witnessed notable increase over the prior week. A few commodities held steady during the week. Meantime, Aluminum Radiators recorded dip in prices.

The prices of 6063 Extrusions, 5052 Scrap and Mixed Aluminum Turnings recorded the biggest surge on Index.

The 6063 Extrusions prices recorded an increase by 2.15% over the previous week. The prices edged higher by $0.02 per Lb to close at $0.95 per Lb on Index, compared with $0.93 per Lb during the start of the week.

The chart below represents the price movement in 6063 Extrusions during the past week:

The prices of 5052 Scrap and Mixed Aluminum Turnings too witnessed notable surge, with prices inching higher by 1.9% and 1.89% respectively.

The only aluminum scrap commodities to maintain previous week price levels were Al/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery.

USA East Coast Prices

The regional scrap aluminum prices mostly edged higher when compared with the prior week. The top three gainers were 6063 Extrusions, 5052 Scrap and Mixed Aluminum Turnings.

The prices of E.C.Aluminum Wire, Litho Sheets, Painted Siding, 1100 Scrap, 3003 Scrap, 356 Aluminum Wheels (Clean), 6061 Extrusions, 6063 Extrusions/Fe, Chrome Wheels, Mixed Aluminum Turnings, MLC Clips, Old Cast, Old Sheet, UBC and Zorba 90% NF too recorded increase over the previous week.

Meantime, Aluminum Radiators recorded week-on-week decline in prices by 2.44%.

USA Midwest Prices

The prices reported notable increase when compared with the week before.

6063 Extrusions surged from $0.91 per Lb from the beginning of the week to close at $0.93 per Lb.

The 5052 Scrap prices witnessed 1.92% weekly surge, recording a rise from $1.04 per Lb to $1.06 per Lb during the week ended 23^rd May, 2024. The weekly price chart of the commodity is provided below:

Mixed Aluminum Turnings were up by 1.89% on a weekly basis.

All other scrap categories, with the exception of Al/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery, recorded surge in prices over the week.

Only Aluminum Radiators prices witnessed decline over the previous week.

USA West Coast Prices

The regional prices of all scrap aluminum categories, except a few, posted week-on-week surge.

6063 Extrusions, 5052 Scrap and Mixed Aluminum Turnings recorded the highest surge.

E.C. Aluminum Wire surged the least, with prices recording week-on-week increase by 0.88%.

Meantime, Al/Cu Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery held steady upon comparison with the previous week.

Aluminum Radiators prices recorded weekly decline by 2.44%, thus being the only commodity to register price decline.

The chart provided below depicts the weekly price movement in Aluminum Radiators:

China Prices

The aluminum scrap prices in the region reported notable decline during the week ended 23rd May, 2024.

The prices of Aluminum Ingots dipped the most. The prices of the commodity registered decline by 0.96%, falling from CNY 20,900 per MT to CNY 20,700 per MT over the previous week.

The weekly price chart of Aluminum Ingots is provided below:

The prices of Old Cast, Old Sheet and 6063 Extrusions too declined by 0.54% each.

Aluminum Transformer prices were down by 0.52%.

Aluminum Radiators, Zorba 90% NF and E.C. Aluminum Wire prices too inched lower by 0.50%.

Meantime, UBC prices were down from CNY 12,750 per MT at the start of the week to end the week at CNY 12,700 per MT, registering week-on-week decline by 0.39%.

India Prices

The Aluminum utensil scrap prices witnessed surge by 0.44% from the prior week. 

The Aluminum ingots prices too were up, registering a week-on-week increase by 0.42%.

The weekly 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) witnessed no change during the week.

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,602.50 per tonne as on 23^rd May, 2024. The LME Aluminum Cash Settlement contract recorded modest decline from $2,625.00 a day before to $2,551.00 per tonne.

The LME Aluminum stocks increased modestly over the previous day to close at 1,125,775 tonnes on 23^rd May, 2024, as compared with 1,125,175 tonnes a day before.

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