Non-Ferrous Spreads

Despite the rise in LME 3-month and base prices, aluminum recycled spreads have remained stable, even with increasing demand. However, I am hearing that UBC has been trading north of 70% as of recent. This has led to a seller’s market, with mills readily meeting asking prices.

Meanwhile, the copper market has seen a shift in spreads from May to July for many sellers, even though the spread is less than 3c. This adjustment suggests a cautious approach among traders, possibly bracing for a challenging summer in terms of base prices.