The U.S. aluminum scrap market has started 2019 where it left off last year—with volatile prices on the London Metal Exchange (LME), low demand and oversupply weighing on scrap prices. Market participants are seeing little support to shift prices higher and expect more challenges through March for the shaky market.
The LME three-month aluminum contract ended its January 3 session down nearly 1-1/2% from a week earlier and more than 8% from a month ago. The contract regained 2.2% of its losses by the close of the January 4 LME session. Aluminum scrap prices were mixed in the first week of the New Year. Mill-grade prices were sideways. Mixed low-copper clips, mixed high-copper clips, mixed high-zinc clips, smelter-grade and painted siding each dropped a penny, while aluminum-copper radiators narrowed down by 2 cents.
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.