Brazils aluminum scrap prices have risen sharply
this month compared with August and a year earlier, according
to a survey released by Brazilian aluminum association
The most expensive
class of secondary aluminum items in Brazilscrap profile
cuttings, unpainted and without contaminants (iron, oil, grease
and rivets)ended the second week of September at 4,750
reais ($2,163) per tonne, up 6.5 percent month on month and
16.1 percent higher year on year, according to
Fundação Getúlio Vargas (FGV), which
carried out the survey for Abal.
"We hope prices do not
increase any more, as it is a very disruptive situation for the
market," a scrap dealer told AMM sister publication
"The (movement in the)
dollar and the (London Metal Exchange) price, which saw a
slight drop recently, would push prices down, except that the
shortage of scrap in the market is still intense, which drives
prices up," the dealer added.
"I believe that prices
will reach a more stable level soon. Less scrap is being
offered because sellers expect LME prices will move (so they
are waiting)," a second scrap dealer said.
Used beverage can
(UBC) briquettes moved to 3,450 reais ($1,568) per tonne, up
5.8 percent and 13.1 percent in the same comparisons, while
loose or baled UBCs rose 5.5 percent and 16.3 percent,
respectively, to 3,280 reais ($1,490) per tonne.
The average price of
aluminum sheet and foil cuttings, painted or unpainted, with a
maximum impurities content of 3 percent was 3,680 reais
($1,671) per tonne, up 8.6 percent month on month and 7.6
percent higher year on year.
A version of this
article was first published in AMM sister publication Metal