US aluminium scrap exports hit four-year high in October

Aluminium scrap exports from the United States surged to a four-year high in October after global buyers took advantage of soaring supply volumes and rock-bottom prices in the domestic market.

Aluminium scrap shipments totaled 169,263 short tons in October, up by 16.2% from 145,711 tons in September and the highest level since October 2014. The surge in aluminium scrap export volumes directly corresponded to a rapid devaluation of US aluminium scrap prices, market sources said. Fastmarkets AMM's assessment for nonferrous auto shred (twitch) hit a more than nine-year low of 46-47 cents per lb in October but have since rebounded to stand at 53-55 cents per lb on December 10 - a level that has been maintained since November 19. “In October, prices in the US market were low. We hit a trough in pricing for twitch and zorba. Twitch prices bottomed out at 46 [cents per lb] and then...

Published

December 12, 2018

20:19 GMT

Pittsburgh