U.S. aluminum scrap prices have reached 10-year lows in the crosshairs of a growing global trade war. China drives much of the global demand for aluminum scrap, and faced with tariffs and a recently devalued currency, they are essentially out of the U.S. aluminum scrap market. The results have shrunk aluminum scrap demand and prices beyond what most market participants believed was the market’s low-water mark.
The LME three-month aluminum contract closed the August 8 session 0.2% lower for the week. Benchmark prices for A380.1 secondary aluminum alloy were steady for the week, remaining at its lowest level in a decade. Most other secondary aluminum tags were lower for the week in a range of 1-2 cents per lb.
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.