Al Alloy Makers Cut Scrap Price by 3-5 yen in Osaka for 1H of June

Aluminium scrap dealers agreed with secondary alloyed aluminium makers to reduce scrap price by 3-5 yen per kilogram around Osaka for first half of June. The price decreased under weak primary aluminium price and slower demand from makers. The makers’ purchase price is 143-147 yen for new cutting grade and 118-123 yen for pressed aluminium sash scrap.

The alloy makers reduced higher grade scrap purchase price by 5 yen per kg when Japanese imported primary aluminium ingot breakeven point decreased by around 20 yen from early May under weak market price at London Metal Exchange and higher yen exchange rate.

Lower grade scrap price decreased by 3-5 yen per kg. The price was supported by steady demand in May but some makers reduced scrap purchase volume recently due to the makers’ scrap overstock.