Aluminum Scrap Prices: Weekly Market Report- Oct 27th, 2023

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (20^th to 26^th October, 2023) on the Scrap Monster Price Index are provided below:

North America Prices

The prices witnessed notable increase over the prior week.

The prices of Breakage 50% Recovery, Mixed Aluminum Turnings and 6063 Extrusions/Fe surged the most.

The Breakage 50% Recovery prices recorded largest increase by 3.33% over the previous week. The prices edged higher by $0.01 per Lb to close at $0.31 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 6063 Extrusions/Fe too witnessed notable surge, with prices going higher by 2.33% and 1.61% respectively.

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

USA East Coast Prices

The regional scrap aluminum prices edged higher when compared with the prior week. The top three gainers were Breakage 50% Recovery, Mixed Aluminum Turnings and 6063 Extrusions/Fe.

The prices of E.C. Aluminum Wire and 5052 Scrap recorded nominal surge in prices, rising by 1.03% and 1.09% respectively. 

Meantime, Aluminum Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe and Aluminum Transformers were only ones to maintain previous week’s price levels.

USA Midwest Prices

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

Breakage 50% Recovery prices surged from $0.29 per Lb from the beginning of the week to close at $0.30 per Lb, rising by 3.45% week-on-week.

The Mixed Aluminum Turnings prices witnessed 2.33% surge over the week, witnessing a rise from $0.43 per Lb to $0.44 per Lb during the week ended 26^th October, 2023.

The chart given below depicts the weekly price movement in Mixed Aluminum Turnings:

The other scrap categories to record notable surge in prices were 6063 Extrusions/Fe, 6061 Extrusions, Zorba 90% NF and Chrome Wheels.

USA West Coast Prices

The regional prices of all scrap aluminum categories, except Aluminum Radiators, Al/Cu Radiators/Fe, Aluminum Radiators/Fe and Aluminum Transformers posted week-on-week surge.

Breakage 50% Recovery, Mixed Aluminum Turnings and 6063 Extrusions/Fe were the biggest price gainers.

The prices of 6061 Extrusions, Zorba 90% NF and Chrome Wheels too recorded increase from the previous week.

Please find below the weekly price variation in Zorba 90% NF:

China Prices

Old Cast and Old Sheet prices gained the most during the previous week, rising from CNY 16,400 per MT to CNY 16,500 per MT each.

The weekly price chart of Old Cast scrap is given below.

Also, the chart given below provides weekly price movement of Old Sheet scrap.

6063 Extrusions recorded a jump in price by CNY 100 per MT, from CNY 16,600 per MT during the start of the week to end the week at $16,700 per MT.  Aluminum Transformers too reported 0.57% surge in prices over the week.

All other scrap, including Aluminum Radiators, E.c. Aluminum Wire, Zorba 90% NF and Aluminum Ingots continued to stay on the rise.

India Prices

The Aluminum utensil scrap prices edged higher from INR 194,000 per ton during the start of the week to INR 197,000 per ton on 26^th October, 2023. A similar increase by INR 3,000 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) remained flat during the week.

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,216.00 per tonne as on 26^th October, 2023. The LME Aluminum Cash Settlement contract edged higher modestly from $2,188.50 a day before to $2,202.50 per tonne.

The LME Aluminum stocks declined over the previous day to close at 480,250 tonnes on 26^th October, 2023, as compared with 482,450 a day before.

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