US aluminium scrap prices rise on supply tightness

Smelter- and mill-grade aluminium scrap prices in the United States rose almost across the board in the week to Thursday October 15 while buyers reported increasing difficulties buying material at past pricing levels.

“It does seem like secondaries are getting stronger,” one seller said. “I have had more calls for material. Some traders were having difficulties filling their orders for old sheet.” Fastmarkets assessed the buying price for old sheet, delivered to Midwest secondary smelters at 46-48 cents per lb on October 15, up by 1 cent week on week and its highest since mid-September 2018. The buying price for old cast, delivered to Midwest secondary smelters rose to 46-49 cents per lb, up by 2 cents week on week and its highest since mid-September 2018. Aluminium scrap prices had fallen sharply at the end of March after rising through much of the first quarter, weighed down by the effects of Covid-19 restrictions and closures across many industries. Prices have since recovered and have generally trended upward since...

Published

Jenny Stewart

October 16, 2020

21:25 GMT

New York