Aluminum Scrap Purchase Price in the First Half of 2024
2024-06-30
The price of aluminum scrap increased significantly during the first half of 2024. Compared to the beginning of the year, the price of aluminum on metal exchanges rose by about 30% by the end of May. On January 24, 2024, the price of aluminum was around 1970 euros per ton, and by May 29, it had reached as high as 2560 euros per ton. However, during June, the price of aluminum on exchanges decreased by about 12%, down to 2320 euros per ton.
Since aluminum scrap purchase prices directly depend on the price of this metal on the metal exchanges, they also changed accordingly. According to the information from the website scraprice.com, depending on the type of aluminum scrap, the highest purchase prices were recorded in Poland (about 2260 euros per ton) and Turkey (about 2200 euros per ton).
Reasons for Aluminum Price Changes
The increase in aluminum prices during the first half of the year was influenced by several factors. One of the main reasons was the increased demand in the industry. Due to the accelerating economic recovery after the pandemic in many countries around the world, the demand for aluminum in industries, especially in the automotive and construction sectors, increased. Geopolitical factors limiting aluminum supply also played a role.
How to Apply This Information in the Scrap Purchase Business
Knowing that aluminum scrap purchase prices directly depend on global aluminum prices, it is important to follow market trends. For businesses engaged in aluminum scrap purchasing, it is recommended to continuously monitor news and forecasts from metal exchanges. This will help in planning purchase prices more effectively and maintaining competitiveness in the market.
Conclusion
The first half of 2024 was dynamic in the aluminum market, with significant price increases followed by a subsequent decrease. Aluminum scrap purchase prices, which directly depend on the market prices of this metal, also experienced changes. By following these trends and applying them in your business, you can better plan and optimize your activities in the aluminum scrap market.
The price of aluminum scrap is an important indicator that needs to be continuously monitored and analyzed for successful operations in this field