Aluminum Scrap Markets
October 29, 2024
Written by Gabriella Vagnini
The Midwest Premium (MWP) for aluminum was established as an additional cost added to the price of aluminum to cover expenses like shipping, storage, and handling when the metal arrives in the U.S., especially in the Midwest. It’s the go-to measure in the industry when figuring out the local cost of aluminum beyond what you see on the global exchange.
At ADI’s facility in Mississippi, all three cold mills are now operational, which will allow ADI to access the full 650,000-metric-ton annual capability, the company said.
Recycler forward views shifted toward undersupply in October even as Midwest Premium and UBC expectations moved lower.
Rio Tinto maintained third quarter aluminum production as its Arvida smelter transition continued, while the company delayed two capacity projects at the Quebec complex.
US aluminum scrap imports increased faster than exports through August, while similar tonnage gains kept net exports near year earlier levels.
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.
