It’s a mixed week. Aluminium and lead bounced back, while copper slipped for a second week running. Here’s how each LME market moved and what it means if you have scrap to sell.
Copper –
LME copper fell about 0.9%, adding to last week’s 1.8% drop. It’s a smaller fall this time, but copper has now been softening for a fortnight. For more on what’s weighing on it, read our analysis of the US copper stockpile.
Aluminium (HG) –
Aluminium rose about 1.8%, ending a run of three weekly falls. If you’ve been holding aluminium and waiting for a bounce, this is the first sign of one.
Lead –
LME lead was the biggest mover, up about 2.2%. That more than makes up for last week’s 0.7% dip, and it’s a strong week by lead’s standards.
What does it mean for trade sellers?
Aluminium and lead sellers have something to smile about this week, but one good week doesn’t make a trend. Copper is still drifting lower, and the market can just as easily turn back the other way. As always, the price you’re offered on any one load depends more on who’s bidding for it than on the LME headline. The more buyers who see your material, the better your chance of a strong offer. List your scrap on ScrapBays. It’s free to use, and buyers quote their best price.
Source: London Metal Exchange official prices
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