SHANGHAI, Aug. 15 (SMM) – Operating rate at secondary aluminum producers in China fell to the lowest level so far this year at 56.38% in July, SMM survey found.
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Falling orders in the off-season and environmental checks in Zhejiang took a toll on secondary aluminum production, SMM explained.
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Most aluminum scrap suppliers stopped making offers last week after big gains in aluminum prices, making it hard for secondary aluminum producers to source raw materials.
Recent surge in aluminum prices incurred losses on secondary aluminum producers for orders received earlier. Die-castings producers took a wait-and-see stance amid sharply rising aluminum prices, leaving trading muted in secondary aluminum market.
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