Market
March 26, 2024
Written by Gabriella Vagnini
Spreads are tightening on aluminum scrap, while remaining unchanged in copper scrap. Despite UBC trading above 70, the tightening supply continues to concern everyone.
Copper spreads are holding steady. This is largely due to tighter quotes when market was high, resulting in limited scrap availability. If copper scrap scarcity persists, tighter spreads may become inevitable.
Market movements and economic highlights to start your week.
Great Lakes area mills have entered the September ferrous scrap market.
Smelters may choose to increase their use of secondary materials, including scrap, to mitigate their losses.
Hopes for stabilization or even a slight recovery is fading as more players expect further declines in September.
North America is not quite speaking with one voice about China, but the cooperation is evident.