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Market Reports May 26, 2023 02:20:15 PM

Weekly Market Report: Aluminum Scrap Prices- May 26th, 2023

Paul Ploumis
ScrapMonster Author
The LME Aluminum stocks declined slightly over the previous day to close at 575,475 tonnes on 25th May, 2023.
Weekly Market Report: Aluminum Scrap Prices- May 26th, 2023

SEATTLE (Scrap Monster): The weekly price trends of scrap aluminium across worldwide markets for the past week (19th May, 2023 to 25th May, 2023) on the Scrap Monster Price Index are provided below:

North America Prices

The prices witnessed downward trend.

E.C. Aluminum Wire recorded biggest decline in prices over the week, edging down from $1.05 per Lb to $1.00 per Lb. The prices of Mixed Aluminum Turnings and Aluminum Radiators/Fe too recorded significant decline, falling by 4.44% and 4.17% respectively.

The chart provided below depicts the price movement in E.C. Aluminum Wire during the course of the week:

Meantime, 5052 Scrap, 6063 Extrusions, Al/Cu Radiators/Fe, Litho Sheets and MLC Clips recorded marginal decline in prices over the week.

USA East Coast Prices

E.C. Aluminum Wire prices recorded biggest dip over the week, registering 4.76% decline from $1.05 per Lb to $1.00 per Lb. A notable weekly decline by 4.44% and 4.17% was seen in Mixed Aluminum Turnings and Aluminum Radiators/Fe prices.

The scrap aluminium categories that recorded nominal decline in prices included 5052 Scrap, 6063 Extrusions, Al/Cu Radiators/Fe, Litho Sheets and MLC Clips.

 

USA Midwest Prices

The aluminium scrap prices in the region mostly edged lower over the previous week. The top three losers were E.C. Aluminum Wire, Mixed Aluminum Turnings and Aluminum Radiators/Fe.

The E.C. Aluminum Wire prices ended the week at $1.00 per Lb, down from the previous week price of $1.05 per Lb.

Also, the week witnessed dip in prices of Mixed Aluminum Turnings and Aluminum Radiators/Fe to $0.43 per Lb and $0.22 per Lb respectively.

The weekly price chart of Mixed Aluminum Turnings is provided below:

 

USA West Coast Prices

The aluminium scrap metal prices in the region remained weak, with prices of all categories, except Aluminum Transformers, recording week-on-week decline.

The scrap category to dip the most was E.C. Aluminum Wire, whose prices recorded fall from $1.05 per Lb to $1.00 per Lb. It was followed by Mixed Aluminum Turnings and Aluminum Radiators/Fe, which recorded price declines by 4.44% and 4.00% respectively.

The below chart provides weekly price movement in Aluminum Radiators/Fe:

 

Meantime, prices of 5052 Scrap, 6063 Extrusions, Al/Cu Radiators/Fe, Litho Sheets and MLC Clips ended the week with minor downward changes, over the week.

China Prices

Old Cast and Old Sheet prices dropped the most during the previous week. The Old Cast scrap saw its prices drop from CNY 16,050 per MT to CNY 15,600 per MT each.

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

 

Old Sheet recorded a dip in price by CNY 450 per MT, from CNY 16,050 per MT during the start of the week to end the week at $15,600 per MT, which is depicted in the below chart:

 

All other scrap, including 6063 Extrusions, Aluminum Ingots, E.C. Aluminum Wire, Zorba 90% NF, UBC, Aluminum Transformers and Aluminum Radiators reported decline on Index.

 

India Prices

The Aluminum utensil scrap prices edged lower from INR 201,000 per ton during the start of the week to INR 199,000 per ton on 25th May, 2023. A similar fall by INR 2,000 per ton was recorded in Aluminum ingots prices over the week.

The price chart of Aluminum ingots is as follows:  

 

Europe Prices

The prices of all aluminium scrap categories (Aluminum Cuttings, Mixed Aluminum Turnings, Old Cast and UBC) held steady during the week.

 

LME Aluminum Market Update

Meantime, the closing price of LME Aluminum 3-Month contract stood at USD 2,226.00 per tonne as on 25th May, 2023. The LME Aluminum Cash Settlement contract edged higher marginally from $2,234.00 a day before to $2,236.00 per tonne.

The LME Aluminum stocks declined slightly over the previous day to close at 575,475 tonnes on 25th May, 2023, as compared with 575,675 tonnes on 24th May, 2023.

 

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