Fading demand sends US aluminium scrap prices lower

The secondary aluminium scrap market in the United States continues to correct, fueled by a combination of strong consumer inventory positions and ample supply.

Smelter-grade scrap prices have been in a free fall over the past few months. Some major prices, such as non-ferrous auto shred (twitch), tumbled to a more than nine-year low of 53-55 cents per lb on earlier this month with supply continuing to outpace demand. The price held at that level in American Metal Market's assessment on Monday August 27. The imbalance of material in the market has severely stung spot demand for aluminium scrap, according to market participants. “It seems most mills like us are now long on scrap and not buying much. We are seeing scrap prices widen out some lately,” one US consumer...

Published

Bradley MacAulay

August 28, 2018

23:18 GMT

Pittsburgh