July 2018 Aluminum UpdateJuly 2, 2018
The Midwest Average dipped in the month of June leading to a price decrease for July of $0.03 per lb as the month averaged $1.23 per lb (rounded to two places). There still remains some uncertainty in the market due to the increased tariffs on imported aluminum.
June 2018 Aluminum UpdateJune 4, 2018
The price for purchased material in June rose $0.03 per pound based on May’s closing Midwest Average of $1.26 per lb, rounded to 2 places. Aluminum pricing is trending up, and it appears this increase trend will be ongoing due to the recent increase of tariffs on aluminum coming from Canada and Mexico.
May 2018 aluminum updateMay 1, 2018
On April 6th, the US imposed sanctions on Russian aluminum producer Rusal, which supplied large amounts of aluminum to the US. This drove a sharp increase in prices, affecting both the LME and Midwest spot premium. Due to these sanctions, Midwest Avg. rose to $1.23 per lb, up $0.10 per lb from where […]
March 2018 updateMarch 1, 2018
Material cost went up $0.02 per lb in March based on the published Midwest Average of $1.13 per lb (rounded to 2 places). This is primarily due to an increase in conversion cost to billet. On a side note, MEA received our certification to the ISO 9001:2015 standard! Current cert is […]
February 2018 material cost updateFebruary 1, 2018
Raw material cost is increasing for the month of February due to a jump in the Midwest Average in January. January’s Midwest Average rounded to two decimals ended at $1.11 per lb, which is up $0.08 per lb from December’s Average of $1.03 per lb. It appears, based on current trading, that prices may continue […]