US aluminum scrap export prices trended flat over the past week in a quiet market.
Pricing in the domestic market has become more attractive after smelters raised their buying prices this week to chase scrap aggressively. Thus, many exporters have preferred selling locally as Asian buyers held back after LME Aluminium prices softened from this year’s high of around $1/lb.
Container shortage has prompted the sale of material within the US and to Mexico through Laredo. Tight scrap flows and increased freight costs in the US market have also made it harder for exporters to procure material.
The official LME Aluminium cash price settled Thursday at $2,169/mt (98.3¢/lb), down $54/mt from Feb 25.
The weekly Davis Index for zorba 95/2 rose by a penny to 75¢/lb fas US port while zorba 99/3 fell 0.6¢/lb to settle at 74.7¢/lb fas.
The index for tense increased by 0.5¢/lb to 68.7¢/lb fas US port, taint/tabor inched up by 0.1¢/lb to 68¢/lb fas, and 6063 new bare was flat at 84.7¢/lb fas. A356 wheels settled at 84¢/lb fas, up by 0.2¢/lb.