Daily Review of waste Aluminum Price on April 7, 2020

The price of A00 aluminum rose slightly by 50 yuan / ton today, mainly due to continued improvement in overseas macro sentiment and an overall rise in benchmark prices for non-ferrous metals. First, the number of new confirmed cases in areas with concentrated outbreaks overseas has declined continuously over the weekend. Trump spoke out that the epidemic in the United States is under control; second, OPEC is negotiating a production reduction agreement with Russia, but its negotiation meeting has been postponed to Thursday. Affected by this, waste aluminum holders continue to maintain the state of selling prices, it is expected that today's waste aluminum transactions will continue to maintain a relatively poor state. At present, under the price of ADC12 and A00 aluminum, recycled aluminum enterprises can still purchase A00 aluminum hedging costs, so the buyers and sellers are still in a game state. The import of waste aluminum, Q2 batch has not yet been published, and due to the actual import of overseas epidemic problems is also very small, the current import of waste aluminum is in a state of shutdown.

(SMM Yi Liang)