Chinese aluminium scrap market remains firm; prices on upward track in all major markets

<p>Currently, there is an increase in investments in secondary aluminium alloys production in&nbsp;China and producers are shifting focus on using scrap generated within China. China generates a large amount of aluminium scrap every month.</p> <p>Here is an analysis of the price trends of various grades of aluminium scrap in the major China markets supported by data from Shanghai Metals Market. Scrap prices all across the Chinese market have registered a rise on the daily price index.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/china%20scrap.png" alt="News" width="763" height="239" /></p> <p>As on May 26 2017, the price for Shredded Taint scrap in the South China market with 90-92% recycling rate stands at RMB 9,950/t, up 1.02% from RMB 9,850/t on May 25. The price for Baled UBC scrap in the South China market stands at RMB 8,400/t on May 26, up 1.2 % from RMB 9,300/t on May 25.</p> <p>On May 26, Clean Tapping Aluminium Wire scrap in the East China market and Zhejiang province is selling at RMB11,700/t, up 0.86% from RMB 11,600/t on May 25. The same scrap is selling in the Central China market at RMB 11,550/t, up 0.87% from RMB 11,450/t on May 25.</p> <p>The price for Tense scrap in the East China market with a recycling rate 93-94% stands at RMB 10,950/t on May 26, up 0.92% from RMB 10,850/t on May 25.</p> <p>{googleAdsense}</p> <p>On a monthly analysis, the scrap prices were on a higher range in the beginning of May and registered a downward trend in the middle of the month and currently picking up at the end of the month.</p> <p>It is to be noted that the 2017 Chinese Dragon Boat Festival falls on May 28-30 and there will be no update on prices during the holiday period. Normal updates will resume from May 31.&nbsp;</p> <p>&nbsp;</p>