Aluminum Scrap Markets
May 14, 2024
Written by Gabriella Vagnini
Did the copper roll just get squeezed? The market took a big hit Tuesday. Around the world everyone is still recovering from the massive losses.
A source who declined to go on record stated that the squeeze came from a Swiss trading house who stopped out. Closed their exposure over July-Sep, this is said to be the main driver. This caused a lot of traders to get caught in the crossfire.
The National Association of Wholesaler-Distributors (NAW) has filed a notice of appeal to the U.S. Court of Appeals for the Ninth Circuit, challenging the district court’s decision to uphold Oregon’s version of the Extended Producer Responsibility (EPR) laws that are popping up across the country.
Rio Tinto will exclusively market billet from RevoCast’s new British Columbia plant under a long-term agreement combining primary and recycled aluminum.
Recycler forward expectations swung toward oversupply in September as inventory drawdowns eased and export demand lost August’s improving responses.
Aluminum sheet lead times rose in September even as more respondents became more comfortable with overall supply.
A new US aluminum trade group is seeking lower costs on primary metal while backing duties on competing finished imports.