From May 2 to May 8, the throughput of aluminium scrap in Linyi, east China’s nonferrous metal city, settled at 12,386.03 tonnes, a surge of 2,255.47 tonnes from the previous week and up22.26 per cent on the month. Recyclers traded vigorously as a result of a minor increase in aluminium prices. This week, the scrap aluminium throughput reached 16,543.11 tonnes.
The Ministry of Transport issued a document in mid-April saying trucks with all the proper documents should be permitted to pass, and drivers in Linyi had received orders from the ministry. However, when aluminium prices dropped, downstream consumption of aluminium alloy did not increase considerably, having a big influence on recycler’s trade and a large decline in trading volume.
Aluminium prices had increased by RMB 480per tonne on May 11 this week, with recyclers following the suit, followed by the price of aluminium taint which also hiked by RMB 300 per tonne. With the prices increasing by RMB 500 per tonne, some recyclers are more confident about the future market.
With little trades, the price of aluminium tense surged by RMB 200 per tonne. Aluminium taint accounted for the majority of the aluminium scrap throughput in Linyi Metal City. The market must concentrate on downstream consumption. The aluminium scrap throughput is predicted to dramatically expand as consumption improves.
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