US aluminium scrap industry slowing on virus concerns

Aluminium scrap prices in the United States were steady to weak as the impact of the novel coronavirus spread started to hit the industry, and some market participants continued to operate this past week despite business closures in the automotive industry and beyond.

“The situation is very fluid right now; our intentions are to continue running at reduced capacity,” one US-based consumer said. “We are mostly shying away from quoting scrap, just pricing very regular shippers and ongoing deals. Secondary scrap and ingot prices have proven to be some of the most resilient asset classes on planet earth!” Fastmarkets assessed the buying prices for aluminium scrap old sheet and old cast, delivered to Midwest secondary smelters, flat at 38-41 cents per lb and 39-42 cents per lb respectively on Thursday March 19. “We’re not seeing any drop in price. Sellers still holding the same number, but buyers don’t want to buy anything right now,” one...

Published

Jenny Stewart

March 20, 2020

20:40 GMT

New York