US aluminium scrap prices continue to deteriorate

Secondary aluminium scrap prices in the United States have declined further, weighed down by volatile London Metal Exchange prices, softened demand and too much supply, sources said.

Fastmarkets AMM’s price assessment for non-ferrous auto shred (twitch) dropped by 2 cents on the low end and 1 cent on the high end to 49-51 cents per lb on Monday June 10. That price is down 9.9% from 55-56 cents per lb one month ago and down 26.5% from 67-69 cents per lb one year ago. “Twitch is down for several reasons: the cutback of auto production as well as A380.1 weakness,” according to one US trader. “Seasonal scrap flows embolden smelters to cut prices, and zorba [has declined] due to China license uncertainty,” he continued. The prices for high-grade and mixed-grade turnings also...

Published

Elizabeth Ramanand

June 11, 2019

23:35 GMT