Scrap Aluminum Prices: Weekly Market Report- June 2nd, 2023

SEATTLE (Scrap Monster): The weekly trend in aluminium scrap prices across worldwide markets for the past one-week period (26^th May to 2^nd June, 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 Mixed Aluminum Turnings, Chrome Wheels and E.C. Aluminum Wire surged the most.

The Mixed Aluminum Turnings prices recorded an increase by 4.65% over the previous week. The prices edged higher by $0.02 per Lb to close at $0.45 per Lb on Index. The chart below represents the price movement in Mixed Aluminum Turnings during the past week:

The prices of Chrome Wheels and E.C. Aluminum Wire too witnessed notable surge, with prices going higher by 3.13% and 3.00% respectively.

Certain scrap varieties such as Aluminum Radiators, Al/Cu Radiators, Al/Cu Radiatiors/Fe, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery 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 Mixed Aluminum Turnings, Chrome Wheels and E.C. Aluminum Wire. Mixed Aluminun Turnings and Chrome Wheels surged higher by 4.65% and 3.17% respectively.

The prices of E.C. Aluminum Wire edged higher by 3% over the previous week. The commodities to register nominal surge in prices include 6061 Extrusions, 6063 Extrusions/Fe and Zorba 90% NF. 

USA Midwest Prices

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

Mixed Aluminum Turnings prices surged from $0.43 per Lb from the beginning of the week to close at $0.45 per Lb.

The Chrome Wheels prices witnessed 3.17% weekly surge, witnessing a rise from $0.63 per Lb to $0.65 per Lb during the week ended 1^st June, 2023.

The chart given below depicts the weekly price movement in Chrome Wheels:

The other scrap categories to record notable surge in prices were Painted Siding, Old Cast, Old Sheet and UBC.

USA West Coast Prices

The regional prices of all scrap aluminum categories, except Aluminum Radiators, Al/Cu Radiators, Al/Cu Radiatiors/Fe, Aluminum Radiators/Fe, Aluminum Transformers and Breakage 50% Recovery posted week-on-week surge.

The scrap categories to witness highest increase in prices from the prior week were Mixed Aluminum Turnings, Chrome Wheels and E.C. Aluminum Wire.

Please find below the weekly price variation in E.C. Aluminum Wire.

China Prices

Aluminum ingots prices increased the most during the previous week.

The prices of the commodity surged higher by CNY 150 per MT over the prior week, translating to a week-on-week surge of 0.82%.

Old Cast and Old Sheet prices edged higher by 0.63% each, whereas the prices of 6063 Extrusions were up by 0.62%.

The weekly price chart for Aluminum ingots is provided below:

India Prices

The Aluminum utensil scrap prices edged lower from INR 201,000 per ton during the start of the week to INR 198,000 per ton on 1^st June, 2023. A similar decline 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 2,253.00 per tonne as on 1^st June, 2023. The LME Aluminum Cash Settlement contract edged higher from $2,255.00 a day before to $2,281.00 per tonne.

The LME Aluminum stocks declined over the previous day to close at 578,825 tonnes on 1^st June, 2023, as compared with 579,525 a day before.

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