Downward pressure continues to pervade the aluminium scrap market in the United States with no end in sight, with oversupply amplifying fears of further deterioration and sending some prices lower.
Aluminium scrap prices have been in a free fall over the last few weeks, prompting suppliers to unload material in what many market participants are describing as a race to the bottom."I am trying to dump my inventory. It's getting really sloppy in the market, as others are trying to unload scrap, too. I'm not sure about the future, but it is a major concern where these numbers are going to end up," one supplier said.Other suppliers shared similar sentiments, with many questioning when and where the market will bottom out.The imbalance...