SHANGHAI, June 8 (SMM) - From May 30 to June 5, the aluminium scrap throughout of East China Nonferrous Metal City in Linyi stood at 18,754.96 mt, down 2,418.22 mt from a wee ago and down 11.42% MoM. The aluminium scrap throughout of East China Nonferrous Metal City this week was 29,298.2 mt, down 3.86% MoM while the stainless steel scrap throughout was 11,423.97 mt, down 8.81% MoM.

The main reason for the decline in aluminium scrap throughput this week was the reduction in supply as the current aluminium prices shock led to the wait-and-see sentiment and some upstream small traders took a holiday during the Dragon Boat Festival.

At present, the aluminium price was still fluctuating and most traders take a wait-and-see attitude in the short term as the misjudgement of the follow-up market may lead to losses. Therefore, it is necessary to pay attention to the A00 spot inventories and the impact of domestic and overseas macro policies on capital sentiment.