Search Copying and distributing are prohibited without permission of the publisher
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

  • By submitting this article to a friend we reserve the right to contact them regarding AMM subscriptions. Please ensure you have their consent before giving us their details.

Aluminum wheel prices holding above LME

Keywords: Tags  aluminum wheels, 356 alloy, LME, daniel fitzgerald

NEW YORK — Secondary aluminum wheels refuse to budge from a free-market price point well above the cost of primary aluminum on the London Metal Exchange, with strong competition for the item keeping prices high.

Scrap traders continue to put aluminum wheels in a range of 86 to 88 cents per pound, even though the LME cash price ended Friday’s official session at $1,860 per tonne (84.4 cents per pound). Aluminum wheel prices remained unchanged even when the LME cash price fell as low as $1,810.50 per tonne (82.1 cents per pound) on June 26, although they are down from 94 to 96 cents per pound reported in late May.

Scrap traders told AMM that consistent demand for the item has kept prices stable and high.

"With the market being down the price hasn’t moved much. It’s obviously an item there’s demand for," one buyer said.

"There are a bunch of guys out there who use nothing but wheels, so no matter what the price is, they’re paying it," a second buyer said.

Aluminum wheels have been trading at a premium to the LME cash price for most of this year, with traders reporting that it has become a popular item due to its reliability in producing a 356.1 alloy.

Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Latest Pricing Trends