• Skip to main content

    AMU

    The words "Aluminum Market Update" in white against a dark blue background

    September 25, 2026

    AMU Survey: Aluminum scrap outlook turns toward oversupply

    Written by Nicholas Bell

    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.

    Nicholas Bell

    Read more from Nicholas Bell

    Latest in AMU

    The words "Aluminum Market Update" in white against a dark blue background

    AMU: Edward Meir’s week in review and thoughts for the week of Oct. 12, 2026

    Base metals had a mixed week. Tin lost almost 4% on the week, finishing at $53,000/ton. Prices dropped to a low of $51,259/ton at one point. Aluminum was another loser, off by about 1.6% on the week. Investors are expecting more aluminum supply going forward, especially out of China and Indonesia. Copper prices tacked on 1.1%. They have now recovered more than half of the $700/ton loss sustained (over the course of a week) following reports/rumors in mid-September that US tariffs on refined copper imports might not proceed after all.