Weekly Review: Aluminium Scrap Prices Follow Aluminium Prices Down Sharply

SHANGHAI, May 29 (SMM) – A00 aluminium prices fell from last Monday to Wednesday before bouncing back to 18,160 yuan/mt on Friday, but still 2.05% lower than the previous Friday. Aluminium scrap prices lost 200-300 yuan/mt last week. The price difference between primary aluminium and aluminium scrap barely changed. Some aluminium scrap suppliers held back cargoes in the first half of the week as aluminium prices kept falling, but became more willing to sell after aluminium prices rebounded. Downstream enterprises restocked as needed and overall transactions declined a little. Considering weak aluminium prices, tight aluminium scrap supply and the off-season, aluminium scrap prices may drop slightly this week.