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Market Reports February 03, 2023 09:05:52 PM

Scrap Aluminum Prices: Market Report- 3rd February, 2023

Paul Ploumis
ScrapMonster Author
The LME Aluminum stocks declined over the previous day to close at 399,600 tonnes on 2nd February, 2023.

Scrap Aluminum Prices: Market Report- 3rd February, 2023

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (27th January to 3rd Februray, 2023) on the Scrap Monster Price Index are provided below:

North America Prices

The prices witnessed mixed trend over the prior week. A few commodities held steady during the week, while others recorded decline.

The prices of Aluminum Transformers, Aluminum Radaitors/Fe and Breakage 50% Recovery recorded the biggest decline on Index.

The Aluminum Transformers prices recorded a dip by 4.55% over the previous week. The prices edged lower by $0.01 per Lb to close at $0.21 per Lb on Index.

The prices of E.C. Aluminum Wire and 6063 Extrusions/Fe too witnessed notable decline, with prices edging lower by 3.70% and 3.03% respectively.

The aluminum scrap commodities that registered marginal decline in prices over previous week price levels include Old Sheet, Old Cast, 6063 Extrusions and Painted Sliding.

The chart below represents the price movement in Painted Siding during the past week:

 

USA East Coast Prices

The regional scrap aluminum prices was a mixed bag during the week ended 2nd February, 2023.

The top three losers were Aluminum Transformers, Aluminum Radaitors/Fe and Breakage 50% Recovery.

The prices of Al/Cu Radiators, Al/Cu Radiators/Fe and Mixed Aluminum Turnings witnessed no change over the previous week.

All other scrap commodities, including 3003 Scrap, Breakage 50% Recovery, UBC, E.C. Aluminum Wire, Litho Sheets and MLC Clips saw marginal decline in prices week-on-week.

USA Midwest Prices

The prices of very few commodities held steady over the prior week, whereas most varieties posted nominal decline in prices.

E.C. Aluminum Wire and 5052 Scrap were the scrap categories to decline the least, registering declines by 0.78% and 0.92% respectively. E.C Aluminum Wire prices dipped from $1.28 per Lb at the start of the week to $1.27 per Lb towards the end of the week. Also, 5052 Scrap dipped from $1.09 per Lb to $1.08 per Lb during the course of the week.

The prices of Al/Cu Radiators, Al/Cu Radiators/Fe and Mixed Aluminum Turnings remained flat on Index.

The weekly price chart of Al/Cu Radiators/Fe is provided below:

 

All other scrap commodities recorded nominal decline during the week.

USA West Coast Prices

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

Zorba 90% NF dipped by 1.3%, with prices falling from $0.77 per Lb to $0.76 per Lb over the week ending 2nd February, 2023.

The price weekly movement of the commodity is depicted in the chart below.

 

China Prices

The aluminum scrap prices in the region declined upon comparison with the previous week. The prices of Old Cast and Old Sheet declined the most, each falling by 1.77%.

The weekly price chart for UBCis provided below. It must be noted that the commodity prices declined the least during the week.

 

India Prices

The Aluminum utensil scrap prices edged lower from INR 218,000 per ton during the start of the week to INR 217,000 per ton on 2nd February, 2023. A similar decline by INR 1,000 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) witnessed no change during the week.

 

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,609.00 per tonne as on 2nd February, 2023. The LME Aluminum Cash Settlement contract edged lower from $2,611.00 a day before to $2,572.50 per tonne.

The LME Aluminum stocks declined over the previous day to close at 399,600 tonnes on 2nd February, 2023, as compared with 404,150 a day before.

 

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