Aluminium Scrap Price Trend and Forecast

Aluminium Scrap Price Trend

Get the latest insights on price movement and trend analysis of Aluminium Scrap in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Aluminium Scrap Price Trend for the Second Half of 2023

The aluminium scrap market exhibited mixed price trends throughout the second half of the year 2023. However, surprisingly, the aluminium scrap market performed better than the metal aluminium market. The scrap prices, though, started on a lower note at the beginning of the said period in July, impressively improving steadily for the next few months.

Aluminium Scrap Price Chart

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Though the movements in prices were very marginal and confined, the overall market sentiments were relatively positive in the gloomy times of global trade. At first, the monthly average prices in the European market went from around 1190 USD/MT (FOB) in July’23 to about 1130 USD/MT in August’23, showcasing a sudden decline of about 5%. However, the prices started to slowly incline after that and finished at about 1164 USD/MT in December’23, registering a 3% incline from August.

Analyst Insight

According to Procurement Resource, the Aluminium Scrap prices are likely to rise further in the coming months since industrial demands are expected to surge after the end of this holiday season.

Aluminium Scrap Price Trend for the First Half of 2023

In the first quarter of 2023, the demand for aluminium scrap declined by almost 4 percent as compared to the previous quarters in the US and Canadian markets. However, the market conditions were still stable as compared to the previous quarters due to the increased interest of utility companies and the government in the electrical grid systems. In addition to this, the rates of exports to international buyers also inclined several folds while the import rates declined significantly, providing the falling market dynamics of aluminium scrap a cushion.

The situation in European countries was also the same as seen in the US and Canada. The main cause of fluctuations in the prices of aluminum scrap in this region was the low inflow of the product. The backlog of new orders placed continued to hamper the growth of the aluminium scrap price trend in the first two quarters of 2023. Further, the consumer sector in the region also seemed under the pressure of poor performance of the economy, rising interest rates, and soaring costs of energy production, which eventually led to a fall in the index of consumer purchasing potential.

Analyst Insight

According to Procurement Resource, the price of Aluminium Scrap is expected to follow an oscillating trajectory as the consumers seem to be suffering from uneven market conditions and negatively sliding economic conditions.

Procurement Resource provides latest prices of Aluminium Scrap. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.