AMU Survey: Aluminum scrap outlook turns toward oversupply

This piece was first published by Aluminum Market Update (AMU), SMU’s nonferrous sister publication. To learn about AMU, visit their website or sign up for a free trial.

The aluminum scrap outlook changed sharply from August as recycler forward expectations swung toward oversupply. Inventory drawdowns became much less common, obsolete scrap availability increased and export demand lost its improving responses. Current demand also became less positive, although Midwest premium and UBC expectations remained concentrated around stable or higher prices.