Aluminum Scrap Markets
September 10, 2024
Written by Stephanie Ritenbaugh
The construction sector is showing signs of resilience, gaining jobs and showing optimism for the future as projects move forward.
The Dodge Momentum Index (DMI) rose 2.9% in August to 220.4, up from the revised July reading of 214.2, driven by commercial and institutional projects.
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.
