Aluminium Scrap Market Weakening in Nagoya

Aluminium scrap market price is weakening in Nagoya. Local aluminium alloy makers are purchasing aluminium scrap at around 285 yen per kilogram for new cutting scrap, at around 230 yen per kg for aluminium-casting machine parts scrap and at around 190 yen per kg for pressed aluminium can scrap.Domestic primary aluminium price is 320-329 yen per kg, down by more than 30 yen from the beginning of August due to the downtrend of overseas aluminium market and the underlying strong trend of yen against US dollar.Aluminium alloy makers around Nagoya are likely to offer price cut against scrap dealers for shipment during August 16-31 by 5-10 yen per kg for high grade scrap and by more than 5 yen for low grade scrap. Aluminium alloy makers show strong stances when they are suffered from higher material costs and lower aluminium alloy selling prices, although aluminium scrap supply keeps tight due to the lower generation volume.Most scrap dealers expect the price down is unavoidable to reflect the decline of primary aluminium. The dealers will focus on minimizing the price cut range. Totally aluminium scrap market price would decrease soon.