“Mill items are in sync with the rapid changes; however, secondary [consumers] appear to have rule over what they need to buy,” one supplier said.
A second supplier reported seeing “big changes in the [London Metal Exchange] and [Midwest] premium, but not much in secondary.”
The scrap market has been hit with a wave volatility due to drastic trade policy changes, which have sent the mill-grade and smelter-grade prices moving in opposite directions
“The rising LME has nothing to do with the secondary aluminium market, which is under pressure,” one consumer said.
The US Midwest P1020 premium rose to 22-23 cents per lb on Tuesday April 10, bringing...