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SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (12th to 19th, January, 2023) on the Scrap Monster Price Index are provided below:
The prices witnessed notable increase over the prior week.
The prices of Aluminum Transformers, 6063 Extrusions/Fe and 6061 Extrusions surged the most.
The Aluminum Transformers prices recorded an increase by 4.76% over the previous week. The prices edged higher by $0.01 per Lb to close at $0.22 per Lb on Index.
The chart below represents the price movement in Aluminum Transformers during the past week:
The prices of E.C. Aluminum Wire, Chrome Wheels and Zorba 90% NF too witnessed notable surge, with prices edging higher by 4.13%, 4.11% and 4.11% respectively.
Three aluminum scrap commodities- Al/Cu Radiators/Fe, Aluminum Radiators/Fe and Al/Cu Radiators witnessed no change in prices over the prior week.
The regional scrap aluminum prices edged higher when compared with the prior week. The top three gainers were Aluminum Transformers, 6063 Extrusions/Fe and 6061 Extrusions.
The weekly price chart of 6063 Extrusions/Fe is provided below:
The prices of Chrome Wheels and Aluminum Radiators recorded nominal surge in prices, rising by 2.74% and 2.56% respectively.
The prices reported significant increase when compared with the week before.
6063 Extrusions/Fe prices surged from $0.68 per Lb from the beginning of the week to close at $0.71 per Lb.
The 6061 Extrusions prices witnessed 4.23% weekly surge, witnessing a rise from $0.71 per Lb to $0.74 per Lb during the week ended 19th January, 2023.
The other scrap categories to record notable surge in prices were Chrome Wheels, Zorba 90% NF and E.C. Aluminum Wire.
The regional prices of all scrap aluminum categories, except Al/Cu Radiators/Fe, Aluminum Radiators/Fe and Al/Cu Radiators posted week-on-week surge.
Aluminum Transformers surged the most, with prices recording week-on-week jump by 4.55%.
Old Cast and Old Sheet prices increased the most during the previous week.
Both the above two scrap categories saw their prices surge by CNY 750 per MT over the prior week, translating to a week-on-week surge of 4.73% each.
The weekly price chart for Old Cast is provided below:
Please find below the chart depicting weekly price change in Old Sheet.
The 6063 Extrusions prices edged higher by 4.70%, whereas the prices of E.C. Aluminum Wire were up by 4.39%.
The Aluminum utensil scrap prices edged higher from INR 204,000 per ton during the start of the week to INR 210,000 per ton on 19th January, 2023. A similar increase by INR 6,000 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 2,571.00 per tonne as on 19th January, 2023. The LME Aluminum Cash Settlement contract edged lower from $2,636.00 a day before to $2,541.00 per tonne.
The LME Aluminum stocks declined over the previous day to close at 385,850 tonnes on 19th January, 2023, as compared with 390,400 a day before.
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