Weekly Review: Aluminium Price Rally Shores Up Aluminium Scrap Prices

SHANGHAI, Jun 13 (SMM) – Spot A00 aluminium prices rebounded last week, hitting nearly one-month high of 18,650 yuan/mt. Buoyed by rising aluminium prices, aluminium scrap prices in most regions gained 50-100 yuan/mt last week. The price difference between primary aluminium and aluminium scrap changed little. Aluminium scrap supply picked up after prices rose. Downstream producers were cautious in purchasing due to falling orders and rising raw material prices. Transactions in aluminium scrap market improved. Aluminium scrap prices will be supported by tight supply and rigid demand from downstream buyers.