Lackluster demand and abundant supply domestically have weighed on the U.S. aluminum scrap market in recent months, where most major prices have fallen to 9-year lows. While secondary aluminum scrap prices are now holding mostly steady, U.S. zorba prices are providing some near-term sanguine.
Export demand into Asian markets has pushed U.S. zorba prices higher by a few cents and some participants are cautiously reading the muted up tick as a temporary bounce off the bottom. Mill grade aluminum scrap prices also gained a few cents, while the London Metal Exchange (LME) three-month contract closed up more than 9% from the prior week to close the October 4 session. The LME contract traded lower during the October 5 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.