The primary and secondary aluminum markets continue to move in opposite directions. High demand and low inventory have seen primary aluminum prices on the London Metal Exchange (LME) rise upwards of 20% during 2017, while aluminum scrap prices have remained soft on relatively low demand and market oversupply.
Some market participants anticipated Hurricanes Harvey and Irma moving aluminum scrap prices higher. Yet, without increases in consumer demand, the storms only added to the market oversupply.
Current market conditions for aluminum scrap look to be tight for the remainder of 2017, while the primary aluminum market shows no signs of backing off in the near term.
We will continue to keep you updated on market conditions through our website news section, so check back often. Metro Alloys has successfully served its clients for more than 30 years in all market conditions and we encourage you to contact your sales representative, Marvin Fish, Gary Kamp or Abby Frank with any questions.