ISRI Commodities Roundtable 2016
The nonferrous session at the Institute of Scrap Recycling Industries (ISRI) Commodities Roundtable 2016 noted that the short and near-term future of aluminum scrap market is completely dependent on the market oversupply situation.
Mike Southwood, a senior consultant with the research and consulting group CRU Group highlighted the various issues impacting the global aluminum markets. According to Southwood, the recent split of Alcoa into two entities may have a significant impact on aluminum scrap markets, if the downstream business unit starts buying materials on the open market. Although, various industry groups including the Aluminum Extruders Council and leaders of United Steelworkers have already expressed their concerns on the impact such takeovers could have on global aluminum markets, the deal is likely to go through.