Al Alloy Makers Cut Scrap Price in Tokyo for 1H of November

Aluminium scrap dealers agreed with secondary alloyed aluminium makers to reduce price of higher grade scrap and used beverage can around Tokyo for first half of November shipment. The makers would reduce purchase volume under uncertainty in domestic market.

The dealers tried to increase aluminium scrap selling price by 2-3 yen per kilogram for both high and low grade for first half of November shipment under the rebound of primary aluminium ingot price at London Metal Exchange. However, the dealers reduced the scrap price for some grades when the primary aluminium price decreased.

The dealers’ high grade scrap selling price decreased by 2-3 yen per kg when secondary alloyed aluminium makers’ purchase price was higher than the aluminium re-rollers’ price. The alloyed aluminium makers reduced the purchase price offer to 105-109 yen for UBC including freight while the makers paid around 110 yen for second half of October.