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THINK ALUMINIUM THINK AL CIRCLE
As of January 14, the average price for domestically-generated #6063 aluminium scrap in South China's Guangdong province had jumped 7.9 per cent from the end of last month to reach RMB 19,150 per tonne (USD 2,746 per tonne), the highest level since Mysteel commenced tracking the price in 2023.
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By the same day, China's composite primary aluminium price had also touched a near 19-year high of RMB 24,645 per tonne, including the 13 per cent VAT, Mysteel assessed.
"Rising geopolitical tensions worldwide have recently sparked global concerns about the supply stability of nonferrous materials, which are pushing up prices of key metals such as copper and aluminium," a market watcher based in Shanghai observed.
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