Aluminum prices met with continued downward pressure this week for London Metal Exchange (LME) contracts and scrap material.
Mill demand for aluminum scrap has been soft during September with several consumers out of the market entirely. Contracts for aluminum on the LME and COMEX (CME), which indirectly affect scrap prices, nudged lower with the LME three-month aluminum contract down 0.3 percent from last week and zinc-clips lower by as much as 1.8 percent. High-grade turnings were the exception, moving up about 1.8 percent over last week.
We will continue to keep you updated on market conditions though 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.