Aluminium scrap dealers around Tokyo are offering price hike against local secondary aluminium alloy makers for October 1-15 shipment. Most dealers are willing to raise the price by 5-10 yen per kilogram to reflect high market price of primary aluminium ingot. Meanwhile, for low grade scrap, alloy makers aim to keep the purchase price unchanged.
Scrap dealers and alloy makers around Tokyo entered price negotiations for October 1-15 shipment this week. Primary aluminium 3-month future price at London Metal Exchange (LME), the indicator, reached US$ 2,350-2,400 per tonne in afternoon trading on October 1. LME primary aluminium price surged by around US$ 200 from the level of the previous price negotiation for September 16-30. Many scrap dealers seem to offer price hike by 10 yen per kg for both high and low grade scrap. On the other hand, domestic primary aluminium price is increasing only slightly due to strong yen exchange rate. Thus market players expect high grade scrap price could be actually raised by around 5 yen. For low grade scrap, price negotiations would become harder. Alloy makers are not aggressive to newly procure low grade scrap. Additionally, alloy price stays weak. Alloy makers are willing to set low grade scrap price unchanged though showing possibility to review too low-price items such as low grade sash scrap, alloy turning scrap and used beverage cans.Japan Steel Scrap Composite Prices (Sangyo Press)
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