Alcoa Inc. (AA) and the Boeing Company (BA) have come together to create a “closed-loop” recycling program, streamlining the aluminum supply chain between the aluminum producer and aerospace OEM, according to a recent announcement made at the Paris Air Show.
The move will recycle aerospace-grade aluminum alloys in Boeing’s plane production process, as well as eventually cut down on the aluminum scrap generated by their suppliers. From the press release: “The program calls for recycling of 2XXX and 7XXX-series aluminum alloys used in the production of wing and fuselage components of Boeing airplanes. The forms will include aluminum extrusions, sheet and plate products.”
For a bit of context, “at the outset, approximately 8 million pounds of aluminum is expected to be recycled annually.”
Meanwhile, several aluminum prices tumbled on the weekly Aluminum MMI®…
The cash price of primary aluminum saw a 2.7 percent decline on the LME, finishing at $1,792 per metric ton and making it the week’s biggest mover on the weekly Aluminum MMI®. With a 2.4 percent decrease on the LME, the 3-month price of aluminum closed the week at $1,837 per metric ton.
Chinese aluminum prices were mixed for the week. The cash price of Chinese aluminum fell 2.4 percent after rising 0.2 percent the week before. Following a 0.3 percent increase in the week prior, the price of Chinese aluminum billet fell 1.3 percent last week. Chinese aluminum bar traded sideways last week.
Following a steady week, prices for Korean 3003 coil premium over 1050 sheet closed flat. Korean 5052 coil premium over 1050 sheet remained essentially flat from the previous week. The week finished with no movement for European 5083 plate. European 1050 aluminum remained unchanged for the week.
The Aluminum MMI® collects and weights 12 global aluminum price points to provide a unique view into aluminum price trends. For more information on the Aluminum MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.