Aluminium Scrap Prices Rise After Strong Rally Of Aluminium Prices

SHANGHAI, May 22 (SMM) - Buoyed by robust rally of aluminium prices, the prices of aluminium extrusion scrap and aluminium tense scrap gained 500-600 yuan/mt and 400-600 yuan/mt respectively last week. The price difference between A00 aluminium and aluminium scrap in Shanghai was largely stable, while that in Foshan narrowed slightly. Aluminium scrap suppliers were cautious about selling in the first half of the week, but this situation eased in the second half of the week as they feared that prices might fall back. Orders at downstream secondary aluminium alloy factories and secondary billet factories were both poor. The overall transactions improved somehow. Considering tight supply and weak demand, aluminium scrap prices may see limited fluctuations.