Companies included in the latest batch have obtained 13,834 mt of Al scrap quotas for Q4, down 70.52% from 46,930 mt for Q3
A slowdown in new orders growth, however, grows concerns about future consumption
2020 will be the "year of completions" as developers are pushed to finish developments and price weakness starts to appear.
There will not be more quotas granted for this year, a source from CMRA Recycling Metal Branch told SMM
The three-month LME zinc is expected to move between $1,900-2,800/mt in 2020, with SHFE zinc at 17,000-21,000 yuan/mt
China’s production of primary aluminium is expected to grow much faster than consumption in 2020
China’s NPI production will decline 13% to 510,000 mt in Ni content in 2020
In Sep, China imported 114,000 mt of aluminium scrap, down 19.1% month on month but up 17.5% year on year
Iron ore supply is expected to grow 67 million mt.
Metallurgical-grade alumina supply in China was in a slender surplus of 2,000 mt in Sep