U.S. aluminum scrap prices held steady last week despite an on-going overhang of supply in the market and uncertainties on trade with China over newly raised tariffs. Market participants were mixed on supply and trade concerns going forward, potentially keeping the aluminum scrap market in a holding pattern for the near term.
The London Metal Exchange (LME) three-month aluminum contract closed the May 17 session 1.9% higher for the week, while benchmark prices for A380.1 secondary aluminum alloy, and other secondary aluminum tags both remained unchanged for the week.
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.