Argus Media has launched a slate of new prices for the European and UK aluminium scrap markets, to be assessed weekly on Fridays to coincide with Argus’ current European scrap price assessments.
In Europe, Argus has introduced an aluminium wheels price, to sit alongside its taint/tabor and tense scrap prices in that market. In the UK, Argus has introduced prices for four different scrap grades – commercial turnings (also called telic), cast (tense), old rolled cuttings (taint/tabor), and aluminium wheels.
Secondary aluminium alloy producers buy aluminium scrap and melt it to produce alloys, which are commonly sold as ingots. Common alloys are used in numerous applications across packaging, construction and infrastructure, while higher-grade alloys are sold to applications such as automotive and aerospace manufacturing.
Prices for commercial grade scraps such as old rolled cuttings, or taint/tabor, generally follow scrap market supply trends. Prices for higher grade scraps, such as aluminium wheels, are usually more closely tied to primary aluminium prices on the London Metal Exchange.
Aluminium wheels in Europe stand at €1,300-1,380/t ($1,440-1,529/t), from €1,350-1,400/t at the start of August, while wheels prices in the UK have fallen to £1,000-1,050/t ($1,251-1,313/t) from £1,040-1,060/t over the same period.
In the UK, commercial turnings stand at £500-530/t from £570-620/t at the start of August, cast fell to £670-750/t from £730-780 over that period, and old rolled cuttings slipped to £600-650/t from $630-660/t.
Argus assesses four grades of aluminium alloy in the European market, including the standard grade DIN 226 casting alloy, which stands at €1,280-1,340/t after falling from €1,330-1,380/t at the start of August.
Argus also assesses three UK aluminium alloy grades including the standard LM24 diecasting alloy, which has stayed at £1,200-1,250/t since late June as the market has remained depressed against the uncertainty of the UK’s planned exit from the EU.The detailed methodology, specifications and terms of all of Argus’ prices including the new scrap grades can be found here.