US aluminium scrap markets diverge; eyes on China

Aluminium scrap markets in the United States were mixed, with mill-grade scrap stepping lower on declines in the terminal market and smelter-grade products mostly on steady footing while all eyes remain on potential aluminium scrap tariffs in China.

Mill-grade aluminium scrap prices and used beverage cans logged a 1-cent-per-lb decline across the board on Monday March 26, according to American Metal Market's latest assessment.
The London Metal Exchange's three-month aluminium contract closed the official session at $2,048 per tonne (92.9 cents per lb) on Monday, down 1.5% from $2,079 per tonne on March 22. The contract nudged higher to $2,056 per tonne on Tuesday.
At the same time, the US Midwest aluminium premium slipped by 0.5 cent per lb to 19-19.5 cents per lb on March 23.

The combination of these declines, along with adequate mill-grade scrap supplies and limited spot demand, weighed on scrap...


Bradley MacAulay

March 28, 2018

02:22 GMT