The prices for US export scrap aluminum fas US ports lost ground on Thursday on weak demand from China.
The weekly Davis Index for 99/3 Zorba fas US ports decreased by a penny to 47¢/lb while 95/2 Zorba fas US ports decreased to 44¢/lb on Thursday, down a penny from a week ago.
The Indices for Taint/Tabor and Tense fas US ports were down by 2¢ to 42¢/lb and 43¢/lb, respectively.
Market participants remain concerned about the impact of the coronavirus, on news about more outbreaks and an increase in the number of cases to 14,000 in more regions throughout China.
Demand is lower as the aluminum scrap consumers in China have postponed restarting operations as workers are not being able to return due to government-enforced quarantines.
The three-month LME aluminum price increased from 78.56¢/lb on Thursday of last week to 79.54¢/lb on Thursday.