SHANGHAI, Oct 21 (SMM) – 44,935 mt of aluminium scrap was allowed into the market in the latest batch of approvals for restricted metal scrap imports for 2019, according to the list released by the Solid Waste and Chemical Management Centre on October 17.
The volumes were 83.66% lower than the actual imports of 274,955 mt aluminium scrap in the third quarter, in line with market expectations that Chinese authorities will sharply scale back waste import quotas in the remainder of the year.
The smaller quota will continue to tighten up China’s aluminium scrap market in the fourth quarter, given current low inventories and stable orders at secondary aluminium producers.
Inflow of seaborne aluminium alloy ingots may only limitedly ease domestic tightness of aluminium scrap in November-December.
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