Prices for most aluminium scrap grades maintained upward momentum this past week amid continued struggles to source freight as well as persistent supply-side tightness in the United States, Fastmarkets understands.
Fastmarkets' assessment of the non-ferrous auto shred (90% Al) buying price, delivered to Midwest secondary smelters rose to 62-66 cents per lb on Thursday November 19 from 60-64 cents per lb at the prior assessment.Demand for shredded product remains steady, according to sources, although some noted difficulty sourcing shredder feed."[The] shredded market in the US is firm on pricing and soft on actual volume," one trader said. "My belief is that November volumes of shred will be 75% of same period last year."Fastmarkets' assessment of the used beverage cans, domestic aluminum producer buying price, fob shipping point US rose by 6.2% to 58-62 cents per lb on Thursday; that jump was driven by months...