Falling Costs Coupled with Off-Season Double Inventory Buildup, ADC12 Consolidates on a Subdued Note [Aluminum Scrap and Secondary Aluminum Weekly Review]
[Aluminum Scrap and Secondary Aluminum Weekly Review: Inventory Buildup from Lower Costs and Off-Season, ADC12 Consolidates on a Subdued Note]
China's aluminum scrap market prices this week followed the decline in primary aluminum, showing a pattern of weakness at high levels, but cost support still existed, limiting the downside. On August 20, SMM A00 spot aluminum closed at 23,600 yuan/mt, down 520 yuan/mt from 24,120 yuan/mt last Thursday. Dragged by the decline in primary aluminum prices, aluminum scrap prices...