Scrap Aluminum Prices: Weekly Market Report- 19th May, 2023
Market Reports | 2024-03-22 04:36:42
The LME Aluminum Cash Settlement contract surged higher from $2,269.00 a day before to $2,312.00 per tonne.
By Paul Ploumis
SEATTLE (Scrap Monster): The weekly price trends of scrap aluminium across worldwide markets for the past week (12th May, 2023 to 18th May, 2023) on the Scrap Monster Price Index are provided below:
The prices witnessed no change over the prior week.
6063 Extrusions, Al/Cu Radiators/Fe, UBC, Old Sheet, Old Cast and MLC Clips prices held steady over the week.
The prices of Mixed Aluminum Turnings, Chrome Wheels, Breakage 50% Recovery, Aluminum Transformers, Aluminum Radiators/Fe and Al/Cu Radiators too were flat on Index.
The chart below represents the price movement in Aluminum Transformers during the course of the week:
The other scrap categories that recorded no change in prices included 6063 Extrusions/Fe, 6061 Extrusions, 5052 Scrap, 356 Aluminum Wheels(Clean), 3003 Scrap, 1100 Scrap, Painted Siding, Litho Sheets, E.C.Aluminum Wire and Zorba 90% NF.
The regional scrap aluminum prices witnessed no change when compared with the prior week.
The prices remained steady when compared with the week before.
6063 Extrusions, Al/Cu Radiators/Fe, UBC, Old Sheet, Old Cast and MLC Clips prices witnessed no change over the week.
The prices of Mixed Aluminum Turnings, Chrome Wheels, Breakage 50% Recovery, Aluminum Transformers, Aluminum Radiators/Fe, Al/Cu Radiators and Aluminum Radiators too held steady on Index.
The U.S. Midwest region recorded no change in prices for 6063 Extrusions/Fe, 6061 Extrusions, 5052 Scrap, 356 Aluminum Wheels(Clean), 3003 Scrap, 1100 Scrap, Painted Siding, Litho Sheets, E.C.Aluminum Wire and Zorba 90% NF during the week ended 18th May, 2023.
The weekly price chart of E.C. Aluminum Wire is provided below:
The scrap aluminum prices in the region posted no week-on-week variation. All categories of scrap maintained previous week’s price levels.
The below chart depicts the weekly price variation in Mixed Aluminum Turnings.
Old Cast, Old Sheet and 6063 Extrusions prices surged the most during the previous week.
All the above three scrap categories saw their prices soar by CNY 450 per MT over the prior week. The week-on-week surge in Old Cast and Old Sheet stood at 2.88% each, whereas 6063 Extrusions inched higher by 2.87% over the week.
E.C. Aluminum Wire witnessed a weekly increase in prices by 2.66%.
The rest of the scrap, including Aluminum Ingots, Aluminum Radiators, Aluminum Transformers, UBC, and Zorba 90% NF too recorded increase over the week.
The weekly price chart of UBC, which registered the least decline by 1.7% over the week, is provided below.
The Aluminum utensil scrap prices edged higher from INR 198,000 per ton during the start of the week to INR 200,000 per ton on 18th May, 2023. A similar upmove by INR 2,000 per ton was recorded in Aluminum ingots prices over the week.
The price chart of Aluminum utensil scrap is as follows:
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 2,304.00 per tonne as on 18th May, 2022. The LME Aluminum Cash Settlement contract surged higher from $2,269.00 a day before to $2,312.00 per tonne.
The LME Aluminum stocks declined over the previous day to close at 556,550 tonnes on 18th May, 2023, as compared with 559,000 a day before.
