SHANGHAI, Oct 23 (SMM) — Prices of scrap aluminum have risen steadily with aluminum prices due to concerns about the decrease in the import quantity of Q4 and the peak season of end-user automobile consumption.
Aluminum prices fell and than surged again during September 10 to September 20, and once exceeding 15,000 yuan/mt. I
By the end of October, the raw materials that will meet the requirements of Recycled Casting Aluminum Alloy Raw Materials (GB/T 38472-2019) are not defined as solid waste and are not subject to import approval. This means that the import of scrap aluminum is eased to a certain extent. Therefore, after the introduction of this policy, domestic scrap aluminum prices have lost it's rising momentum.
Relatively speaking, the coastal areas are more affected by imported scrap aluminum, and the prices of scrap aluminum have dropped recently.
On the other hand, the prices of tense kept rising because the market is worried about the shortage of Q4 supply and the downstream demand was better. However, after the restrictions on the import of waste aluminum were announced, the prices of tense in coastal areas began to fall, and the market was trading actively.