Lower Aluminium Scrap Price in Osaka

Aluminium scrap market price turned into drop for the first time in 5 months around Osaka when alloyed aluminium makers started to reduce the scrap purchase price in mid-March stimulated by plunge in the primary aluminium market. Japanese primary aluminium ingot price decreased to 342-347 yen per kilogram on March 5, which is 50 yen lower than 393-398 yen on February 26 to reflect lower ingot price at London Metal Exchange and higher yen rate. Under the market, alloyed aluminium makers were still watching the condition. However, the alloyed aluminium makers recently reduced the scrap purchase price aggressively under uncertainty for LME market, higher yen rate and loose supply balance though Japanese primary aluminium market price increased to 371-376 yen per kg. Some alloyed aluminium makers reduced the scrap purchase price by 15 yen per kg for higher grade scrap in March while others reduced the price by 10-13 yen in early March and by additional 10 yen in the week. They try to reduce the purchase price to 280 yen for printing plate, 275 yen for new cutting sash, 245 yen for alloyed scrap and 175-180 yen for turning scrap at truck cargo including freight toward March end.