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In the first quarter of 2023, the demand for aluminum scrap dipped by nearly 4% in the US and Canadian markets, though overall market stability was maintained due to increased interest from utility companies and government initiatives in electrical grid systems. Export rates surged while imports dwindled, providing a cushion to the declining aluminum scrap market dynamics.
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European countries witnessed similar trends, with low product inflow and order backlogs affecting price fluctuations. Economic challenges, rising interest rates, and energy production costs pressured the consumer sector, contributing to a decline in purchasing potential.
Definition
Aluminium scrap refers to recycled aluminum-containing materials or products that are no longer in use or have reached the end of their useful life. It encompasses various aluminum-based items, such as discarded beverage cans, vehicle parts, construction materials, and industrial components. Aluminium scrap is collected, processed, and melted down for recycling. Properties of aluminum scrap include its lightweight nature, corrosion resistance, and recyclability, making it a valuable resource for producing new aluminum products, conserving resources, and reducing environmental impact.
Key Details About the Aluminium Scrap Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Aluminium Scrap in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Aluminium Scrap Price chart, including India Aluminium Scrap price, USA Aluminium Scrap price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Aluminium Scrap Price Trend:
Aluminium scrap, sourced from recycled aluminum-containing materials and products, serves a multitude of industrial purposes. It is a primary raw material for the production of new aluminum products, such as aluminum sheets, extrusions, and castings, through recycling processes. These recycled materials are employed extensively in industries like automotive, aerospace, construction, and packaging. Aluminium scrap finds its way into automotive parts, aircraft components, building materials, beverage cans, and electrical wires. Its lightweight nature, excellent corrosion resistance, and recyclability make it a preferred choice for sustainable manufacturing, conserving resources, reducing waste, and minimizing the environmental footprint associated with primary aluminum production.
Key Players:
- Sims Metal Management Kuusakoski Recycling DOWA HOLDINGS Co Ltd
- Arcelor Mittal S.A.
- REAL ALLOY Commercial Metals Company
- Aurubis AGS TRIMET
- Aluminium Nupur Recyclers
- Arfin India Ltd
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