Chinese secondary aluminium prices expected to grow in September due to consumption recovery
According to the survey of Shanghai Metals Market, secondary aluminium prices are expected to grow in September across all major Chinese markets, in anticipation of a consumption recovery.
A few signs have been indicating a lift in secondary aluminium demand, found Shanghai Metals Market. Some die-casting plants are reporting better orders since July. Improved orders drove them to shorten or give up schedule summer break, but most die-casting plants remained closed. This led a pause to declines in prices of secondary aluminium ADC12.
Steady prices of aluminium scrap also lent stability to the prices of secondary aluminium, as hot weather and generally weak prices prompted scrapyards to scale back operations.
SMM believes that secondary aluminium prices have bottomed out.
The US exports of aluminium scrap up 9.4% YoY in May; China and India top the importer list
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