AMU Survey: Aluminum scrap outlook splits on prices
Recycler forward views shifted toward undersupply in October even as Midwest Premium and UBC expectations moved lower.
Recycler forward views shifted toward undersupply in October even as Midwest Premium and UBC expectations moved lower.
Aluminum sheet lead times rose modestly in October, while broader supply indicators remained largely stable after September’s shift.
LME aluminum prices returned to February levels despite a 50% decrease in warehouse inventories and a substantial narrowing of the cash-to-three-month contango.
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US aluminum scrap imports increased faster than exports through August, while similar tonnage gains kept net exports near year earlier levels.
There’s a lot of news to keep track of, so we’re lending a hand with highlights from the past month and what they mean for you.
LME aluminum prices moved lower into October as on-warrant stocks declined and investment firms reduced net-long exposure.
Honda and Toyota gained relative ground in the third quarter as GM and Ford sales declined and several battery-electric models lost volume.
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.