Aluminum Scrap Markets
October 22, 2024
Written by CRU
Longs producer and recycler Commercial Metals Company expects its fiscal Q1’s consolidated financial results to be lower than the $104 M (€95.3 M) achieved in fiscal Q4, which ended August 31, according to president and CEO Peter Matt.
Continued macroeconomic uncertainty and temporary, dampened sentiment within some areas of the construction industry are to blame, he said.
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.
