Current Scrap Metal Prices

Spurred by fundamental stress of over-capacity, London Metal Exchange(LME) opened high, ran low, closed low after the volatility and finally closed at 2,185 points, down by 20 points, or 0.91%. In terms of the stock, Monday, LME aluminum stock dropped 6,025 tons, totally to 4,391,650 tons.

Today, Shanghai aluminum, opened low, ran low, on the main shock. Contract 1011 closed at 15,545 points at, down by 180 points, or 1.14%, trading at 15,520 to 15,715, positions increased 1,302 hands, turnover decreased 10,000 to 99,000 hands.

In Spot market, the Yangtze A00 aluminum transaction prices: 15,260-15,300 RMB/T, up by 40 RMB/T; Shanghai Aoo aluminum ingot transaction price: 15,260-15,280 RMB/T, down by 70 RMB/T; Guangdong Nanchu A00 ingot transaction price: 15,160-15,300 RMB/T, down by 70 RMB/T.

Today, the domestic scrap aluminum price kept the same with the previous trading day, downstream merchants purchased products comparative positively, while part of merchants still maintained watching attitude. Latest Price: shred tense 12,900 RMB/T, shred taint 12,100 RMB/T.

In a short term, the adjustment of stock market and decline of copper price will bring aluminum some downward pressure. Meanwhile, the weakness of aluminum market fundamentals have attributed to the relatively weakness of aluminum prices trend. Currently, due to the lack of support of recovering economic factors, the expected short-term aluminum price will fall slightly after a volatility.

(1RMB=0.1476USD) News Source www.worldscrap.com