The Aluminium Scrap Throughout of East China Nonferrous Metal City in Linyi Declined

Published: Jun 8, 2022 15:54

Source: SMM

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At present, the aluminium price was still fluctuating and in the short term, most traders take a wait-and-see attitude 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.

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.

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