U.S. aluminium scrap prices remain flat over mild demand and tight supply

Aluminium scrap prices in North America remained flat on ScrapMonster Price Index as on December 6, Tuesday. There was no change noted in 1100 Scrap prices during the day's trading and the prices of 3003 Scrap too remained flat at $0.59 per Lb.

Other aluminium scrap commodities which held their grounds on the index include 356 Aluminum Wheels, 6063 Extrusions/Fe too, and 6063 Extrusions.

The prices of 6061 Extrusions and 5052 Scrap remained unchanged at $0.54 per Lb and $0.56 per Lb respectively.

The prices of Al/Cu Radiators and Al/Cu Radiators/Fe remained flat. Aluminum Radiators and Aluminum Radiators/Fe prices held steady. Aluminum Transformers, Breakage 50% Recovery prices, Chrome Wheels and E.C Aluminum Wire prices remained unchanged on December 6, Tuesday. No change in the price of Mixed Aluminum Turnings were noted either over the day.

In the U.S., specifically, shredded scrap prices rose during the week ended November 11, while major U.S. aluminium scrap commodities weekly average prices on Scrap Register Price Index remain steady.

According to industry sources, the weekly U.S. Midwest shredded scrap index touched $6 per long ton during the week to $238 per long ton (del. Mill).

Analysts are of the opinion that the recent rally in metallurgical coking coal prices is weighing heavy on the scrap prices. There are reports about China purchasing bulk scrap cargoes from the U.S. West Coast exporters.

The participants in the U.S. Midwest market, however, attributed the muted performance of aluminium scrap commodities to tight supply and, partially, to weak demand for scrap as key factors in the rise of the index this week.

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