18 MAY 2015Shanghai Metal Market
US Aluminium Scrap prices show flat trend; LME Aluminium settles down to $1,846 a ton
Edited by : AL CIRCLE
1 min read
United States major aluminium scrap commodities prices showed a flat trend on Thursday, while the futures prices at London Metal Exchange settled down 0.7% at $1,846 a ton.
As per Scrap Register Price Index, major aluminium scrap commodities like 356 auto wheels, 5052 alum clip, 6061 alum extrusion, 6063 10-10 extrusion, al/cu rad with iron, al/cu radiator, alum breakage 50%, alum litho sheets, alum old sheet, alum rad with iron, alum radiator, alum transformer, alum transmission, alum turning, mix alum casting remained almost a flat trend on Thursday.
Aluminium futures prices at London Metal Exchange traded down on Thursday as market capitals failed to stimulate commodity trade, weighing on prices. US initial jobless claims just slipped 1,000 to 264,000 in the week ending May 8, better than expectation and below 270,000 for three weeks.
However, the upbeat indicators failed to raise hope for US Fed’s interest rate hike as Mr. Kohn, the former Vice Chairman of the Fed, reported that weaker-than-forecast April retail sales killed the possibility of raising interest rate in June, pushing US dollar index down 0.32% to 93.37.
As per Scrap Register Price Index, major aluminium scrap commodities like 356 auto wheels, 5052 alum clip, 6061 alum extrusion, 6063 10-10 extrusion, al/cu rad with iron, al/cu radiator, alum breakage 50%, alum litho sheets, alum old sheet, alum rad with iron, alum radiator, alum transformer, alum transmission, alum turning, mix alum casting remained almost a flat trend on Thursday.
Aluminium futures prices at London Metal Exchange traded down on Thursday as market capitals failed to stimulate commodity trade, weighing on prices. US initial jobless claims just slipped 1,000 to 264,000 in the week ending May 8, better than expectation and below 270,000 for three weeks.
However, the upbeat indicators failed to raise hope for US Fed’s interest rate hike as Mr. Kohn, the former Vice Chairman of the Fed, reported that weaker-than-forecast April retail sales killed the possibility of raising interest rate in June, pushing US dollar index down 0.32% to 93.37.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
UK needs to develop stronger policies in waste management
Next articleNew data showing high value of scrap exports revealed during world trade week
Grow with
AL Circle
