Aluminium Scrap Market Price in Strong Trend, Tokyo

Aluminium scrap market price is in strong trend around Tokyo. Local secondary aluminium alloy makers presently purchase new cutting aluminium scrap at 165-170 yen per kilogram and casted aluminium machines scrap at 128-133 yen per kg.

Primary aluminium future price at London Metal Exchange, the indicator, kept the level at US$ 2,450-2,500 per tonne in afternoon trading on January 18th. The market sentiment is steady.

Aluminium scrap dealers and secondary aluminium alloy makers around Tokyo started price negotiations for January 16-31 shipment. Several scrap dealers commented they are willing to raise low grade scrap selling price by 3-5 yen per kg since the price was set unchanged for January 1-15 shipment. Meanwhile, alloy makers say they cannot approve material price hike since alloy ingot selling price hike is delayed.

In China and South Korea, secondary aluminium alloy market price is recently surging. One concerned source points out scrap dealers may increase scrap export if domestic alloy makers disapprove price hike. Market mood is rather advantageous for scrap dealers.

Japanese alloy makers keep steady operations even after governmental incentive was ceased for eco friendly cars.