Transactions of Aluminium Scrap this Week were Poor amid Dropping Aluminium Prices

SHANGHAI, Apr 27 (SMM) - On April 25, aluminium prices fell sharply by 850 yuan/mt to 20,950 yuan/mt, down 3.9% The falling prices suppressed shipment from traders. Besides, the downstream consumption of aluminium alloy was not optimistic, so the trading volume of aluminium scrap decreased compared with the average level last week.

On April 26, aluminium prices declined by 210 yuan/mt to 20,740 yuan/mt, arousing a wait-and-see sentiment and cautious shipment in recycling traders.

On April 27, aluminium prices dropped by 10 yuan/mt to 20,730 yuan/mt, while aluminium scrap prices remained unchanged. At present, the pressure of transportation in most areas where aluminium scrap transactions are concentrated has eased (except Jiangsu, Liaoning, Tianjin and other places). However, due to the poor demand for aluminium scrap and the relatively long settlement period of transactions, the demand for scrap will remain weak in the near future.

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