SHANGHAI, Sep 17 (SMM) – Aluminium quotations were stable today, but silicon prices surged to over 6000 yuan/mt, which made it difficult for the secondary aluminium casting alloy producers to purchase aluminium scrap. A plant purchased aluminium alloy at 900 yuan/mt today, which further triggered the turbulence in the market.
Aluminium scrap selling and purchase prices stood stable in the morning. However, after the prices of silicon reported a sharp increase, some aluminium scrap yards chose to wait and see the reaction of secondary aluminium plants, and the purchase price at 900 yuan/mt of a secondary aluminium plant shocked the market.
The continuous increase in silicon prices will cause the price spread to shrink significantly between aluminium and aluminium tense scrap. The prices of aluminium tense scrap rose by over 300 yuan/mt today.