Aluminium Scrap Price Increases by 5 Yen/kg in Tokyo

Secondary aluminium alloy makers around Tokyo approved price hike of high grade aluminium scrap by 5 yen per kilogram for 16-31 July compared with the previous half month. As to low grade scrap, the purchasing price was mostly set unchanged when alloy makers are suffered from worse profitability due to low selling price of alloy ingot.Primary aluminium at London Metal Exchange exceeded US$ 3,300 per tonne and hit the record at 3-month future price in the first half of July. Scrap dealers around Tokyo offered price hike by 10 yen per kg for high grade aluminium scrap and by more than 5 yen per kg got low grade scrap for the second half of July. However, the hike range was cut since LME aluminium dropped down in mid July.Secondary aluminium alloy makers’ purchasing price increased for the first time in late 3 months. The purchasing price is around 265-270 yen per kg for new cutting scrap and around 267-272 yen per kg for printing board scrap. Scrap dealers failed to raise the selling price of low grade scrap when alloy makers are seriously suffered from worse profitability.