U.S. aluminum scrap prices have continued to move lower with only some secondary aluminum alloys resisting the otherwise dramatic drop in the aluminum market the past few months. Market participants express an on-going uncertainly in the U.S. aluminum scrap market citing strong consumer inventories and an abundance of supply pushing down some aluminum tags to 20-month lows.
Aluminum prices for the benchmark A380.1 were largely unchanged last week, while A360.1 and A413.1 shed nearly 1%, and copper and mixed clips dropped by 1.5%. The London Metal Exchange (LME) three-month contract closed the August 6 session off nearly 1%, before nudging slightly higher during the August 7 session.
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.