Aluminium scrap prices in the United States nudged higher week on week amid healthy domestic and overseas demand and a continued upward trend in futures prices on the London Metal Exchange.
Solid demand in the non-automotive side of the sector, such as consumer products, has helped to mitigate some of the impact from sluggish volumes into automotive suppliers, who continue to face disruptions driven by a lingering silicon chip shortage. “It’s a crazy, very dysfunctional and unpredictable market. It’s feast and famine with different grades,” one aluminium buyer said. Fastmarkets’ assessment of the aluminum scrap mixed low copper clips, buying price, delivered Midwest secondary smelters was at 76-78 cents per lb on Thursday September 23, up by 1.99% from 74-77 cents per lb on September 16.
Source By – MetaBulletin