US & Mexico Weekly Scrap Report (October 1, 2021)
October 1, 2021
MAGNESIUM SPECIAL ALERT.
Executive Summary
USA MARKET COMMENTARY
1. STRONG DEMAND: US consumers continue looking for prompt EC 1350 scrap.
2. RISING SECONDARY SCRAP PRICES: US secondary smelters raise their old cast pricing.
3. MAGNESIUM SPECIAL ALERT. US PULLED INTO MAGNESIUM FRAY: Major US magnesium supplier declares force majeure, may hit North America’s entire aluminum supply chain.
4. SILICON SPECIAL ALERT. 30% DEMAND DESTRUCTION: Silicon shortage, price spikes and semiconductor scarcity are shocking the auto market and thus the aluminum industry.
MEXICAN MARKET COMMENTARY
SECONDARY CRISIS: Silicon prices up 125% but secondary ingot prices stalled.
More details in full report.