Aluminum scrap purchase price by secondary aluminum alloy makers is weakening at around 140-150 yen per kilogram for new cutting grade and at around 90-95 yen for pressed can. The price is expected to decrease more due to lower scrap demand and primary aluminum price at London Metal Exchange.

 

LME aluminum price keeps low level at less than US$ 1,550 per tonne for 3-month future at buyers' price in afternoon session on Monday. Foreign exchange rate of yen keeps less than 90 yen per US dollar at telegraphic transfer selling rate. Japanese domestic primary aluminum transaction price keeps less than 150 yen per kg without freight for cash transaction, which is in line with the year low.

 

Secondary aluminum alloy makers decrease the purchase volume when they get lower order receipt in December while distributors hold surplus inventory. A dealer source expects the high grade scrap could decrease by around 10 yen per kg toward the yearend while the low grade scrap could hit bottom.-Japan Metal Bulletin