The U.S. aluminum scrap market remains largely lackluster, with smelter-grade prices holding steady and mill-grade prices nudging higher during the past week. Market participants note that continuing oversupply in the market is creating concern for possibly lower aluminum scrap prices in the second quarter.
The London Metal Exchange (LME) three-month aluminum contract ended the March 14 session up 2.2% from a week earlier, providing a slight lift to mill-grade prices. Smelter-grade prices mostly widened by a penny on the high end during the week, except used beverage cans adding 1.5 cents per lb on average.
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.