Aluminium Scrap Price in Wait-and-See Mood in Osaka

Aluminium scrap market price is under wait-and-see mood in Osaka. Local dealers seem trading the scrap at 275-280 yen per kilogram for printing plate, at 270-275 yen for new cutting scrap and 63S grade sash, at 215-225 yen for machine casting and at 178-185 yen for soft-pressed can.Demand keeps high for aluminium alloy ingot. Alloyed aluminium ingot makers are active to procure material scrap before scrap generation seasonally decreases in the market. On the other hand, primary aluminium price at London Metal Exchange turned weak in mid November, while the price continued increasing by early November. Japanese domestic price for primary aluminium ingot plunged temporarily from around 355 yen to around 330 yen per kg in the market. Scrap dealer source said alloy ingot makers are likely to decrease their purchasing prices for aluminium scrap in December.Aluminium alloy ingot makers are in price negotiation with the users for the hike this month. The makers did not offer scrap dealers cheaper prices under the situation. However, LME aluminium price turned to increase and it became unclear whether scrap market price increases or decreases. Dealers watch cautiously how much ingot makers offer for scrap purchasing price at the beginning of December.