SÃO PAULO Most
aluminum scrap prices in Brazil fell last week, according to a
survey by the countrys aluminum association, Abal.
The decline was prompted by
lower aluminum prices on the London Metal Exchange and a fall
in the value of the Brazilian currency, market sources told
AMM sister publication Metal Bulletin.
Scrap profile cuttings without
contaminantsthe most expensive secondary aluminum grade
in Brazilended the third week of March at 4,220 reais
($2,103) per tonne (95.4 cents per pound), down 0.9 percent
from the previous week and a 1.2-percent drop from a month
Scrap profile cuttings with a
maximum of 2 percent contaminants averaged 3,780 reais ($1,884)
per tonne (85.4 cents per pound), down 0.3 percent from the
second week of March and 0.8 percent lower than a month
The price of compacted scrap
without contaminants and with a maximum of 2 percent oil and
lubricants averaged 2,770 reais ($1,377) per tonne (62.5 cents
per pound), down 1.1 percent week-on-week and
"Everybody is lowering prices
following LME aluminums move downward. We did not,
however, expect it to drop as much as it did," a Brazilian
scrap source said.
"Oscillations in prices are due
to LME (aluminum) variations and the currency rate," a second
scrap buyer from São Paulo said.
The price of aluminium sheet and
foil cuttings, painted or unpainted, with a maximum of 3
percent impurities, averaged 3,360 reais ($1,670) per tonne
(75.7 cents per pound), up 0.6 percent from the second week of
March but down 0.6 percent from a month earlier; loose or baled
used beverage cans (UBCs) averaged 2,890 reais ($1,436) per
tonne (65.1 cents per pound), up 2.8 percent week-on-week and
month-on-month; and UBC briquettes remained unchanged at 3,050
reais ($1,516) per tonne (68.7 cents per pound).
A version of this article was first published by AMM sister
publication Metal Bulletin.