Current Scrap Metal Prices

Spurred by the unexpectedly recesse of U.S. employment data and the message of stress testing of the Bank of China, the London Metal Exchange (LME) showed that aluminum futures fall back on 5th, and finally closed at 2,220 points, down by 20 by points, or 0.9%. In terms of the stock, LME aluminum stock dropped 4,475 tons, the total decreased to 4,400,500 tons in stock On Thursday.

Today, Shanghai aluminum, opened low, ran low and closed low, on the main shock. Contract 1011 closed at 15,675 points at, down by 30 points, or 0.19%, trading at 15,580 to 15,695, positions increased 2748 hands, turnover decreased 20,000 tto 102,000 hands.

In Spot market, the Yangtze A00 aluminum transaction prices: 15,260-15,300 RMB/T, up by 60 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: 15,170-15,310 RMB/T, down by 50 RMB/T.

Today, the domestic scrap aluminum price kept the same with the previous trading day. Traders’ quotation was solid. Due to the different views on the scrap copper market trend, some stock merchants shipped a small amount of products, while some others were still on the process of stock. The downstream manufacturers’ demand was not that high. The turnover is also on average. Latest Price: shred tense 12,900 RMB/T, shred taint 12,100 RMB/T.

In a short term, the early substantial rise of aluminum momentum gradual slumped with the increase of macroeconomic uncertainty, the short-term price recovery pressure increased. Meanwhile, U.S market was very cautious with the non-farm data on Friday, which pushed down the demand of metal buy order. besides the oversupply situation of aluminum has not changed in a short term, therefore, it is expected that aluminum price will demonstrate a shock and readjust trend.

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