Aluminium Scrap Price Drops by 10 yen/kg in Tokyo

Secondary aluminium alloy makers’ aluminium scrap purchase price decreased by 10 yen per kilogram, mainly for higher grade scrap in Tokyo in the week. The price is 145-150 yen for new cutting scrap and 160-165 yen for aluminium base metal with pressure by lower offshore market and domestic scrap oversupply.

Aluminium ingot price was less than US$ 1,900 per tonne at London Metal Exchange on Wednesday while telegraphic transfer selling rate is less than 97 yen per US dollar. Domestic primary aluminium ingot market price is less than 185 yen per kg for cash transaction.

Domestic aluminium alloy makers try to fix the scrap purchase price for second half of November through negotiation with the scrap dealers. The price is expected to decrease by 10-15 yen per kg for high grade scrap. The price is also decreasing when the makers reduce the purchase volume under slower demand.