Daily Review of waste Aluminum Price on April 9, 2020

[stop falling and stabilize aluminum prices aggravate the shortage of supply in the scrap aluminum market] the price of A00 aluminum rose slightly by 40 yuan / ton today, and the inventory of aluminum ingots in today's society dropped by 69000 tons. Recently, the behavior of buying and hoarding at low levels has increased significantly, especially in Guangdong, and it is still difficult to sustain it for a long time without improved orders. The temporary stabilization of aluminum prices has led to a continued decline in the willingness of waste aluminum recyclers to ship goods, as the epidemic has affected waste aluminum holders whose aluminum prices have fallen sharply at present, and newly recovered waste aluminum is relatively late because of the overall return of waste aluminum recyclers, the quantity of waste aluminum is very limited, resulting in an extreme shortage of supply in the whole waste aluminum market. At present, a small number of recycled aluminum enterprises have stopped production due to lack of materials. If the demand does not improve significantly, the price of recycled aluminum will continue to be under pressure, and the scale of production reduction / shutdown of recycled aluminum enterprises may continue to expand. At that time, it may form a support for the price of recycled aluminum products.

(SMM Yi Liang)