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...