SHANGHAI, May 22 (SMM) – Concerns of shortages in imported aluminium scrap eased after the US and China agreed on Saturday May 19 that they will stop threatening tariffs on each other. Prices of ADC12 aluminium alloy exports to Japan dipped $20/mt to stand at $2,050-2,060/mt in the Jiangsu-Zhejiang-Shanghai area on Tuesday May 22 after prices in the Guangdong area lost $20/mt to stand at $2,050-2,060/mt fob on Monday May 21, SMM learned.
Prices of ADC12 aluminium alloy exports to Japan surged in the last two weeks after China categorised the China Certification and Inspection Group (CCIC) in North America under an A-level risk alert, starting from May 4. The month-long suspension of CCIC’s operations in North America significantly lower imports of aluminium scrap from the US and reduce exports of secondary aluminium.
Shortages of secondary aluminium exports drove up prices for ADC12, exported to Japan, to $2,070-2,080/mt fob over the week ended on May 18. Prices reached a high of $2,090/mt fob on Tuesday May 15, compared to $1,950/mt fob on Friday May 4. However, few transactions were heard at such high prices.
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