SMM Weekly Review: Aluminium Scrap Prices Fall Sharply

SHANGHAI, May 15 (SMM) - A00 aluminium prices lost 470 yuan/mt or 2.56% from a week ago to 17,890 yuan/mt last Friday. Aluminium scrap prices fell 300-400 yuan/mt in east and central China, but dropped just 200-300 yuan/mt in north, south and south-west China last week. The price difference between A00 aluminium and aluminium scrap narrowed a little. Aluminium scrap suppliers held back cargoes amid falling aluminium prices, especially on Friday. Aluminium scrap demand picked up as downstream enterprises resumed production, but buyers tried to push for lower prices to cope with poor orders and profits. In the short term, poor demand and aluminium market will weigh on aluminium scrap prices, but the downside room may be limited thanks to tight supply.