Chinese cast aluminum scrap market sees sufficient supply
2023-03-30 11:33:27 [Print]
BEIJING (Asian Metal) 30 Mar 23 - This week, due to the sufficient supply of cast aluminum scrap, the inventory of consumers basically keeps at a normal level. On Wednesday, mainstream prices for Chinese aluminum foundry scrap Al 93%min stood at RMB15,700-15,900/t (USD2,275-2,304/t) Ex-VAT delivered D/P, up by RMB100/t (USD14.49/t) from Tuesday. Insiders said that cast aluminum scrap suppliers firm their prices and hold back from selling at present, so prices for Chinese cast aluminum scrap would keep stable in the coming week.
A consumer in South China revealed that they have a total of about 1,600t of aluminum scrap in plant and in transit, which reaches a normal inventory level. "On Wednesday, a supplier offered us RMB15,800/t (USD2,290/t) Ex-VAT delivered D/P for aluminum foundry scrap Al 93%min and could accept a concession of RMB100/t (USD14.49/t), while on Tuesday, the supplier refused to sell at prices lower than this level. We didn't close deals today while purchased 300t at RMB15,400/t (USD2,232/t) Ex-VAT delivered D/P on Monday," the source said, adding that cast aluminum scrap suppliers have strong intention to firm their prices for the time being, so prices for Chinese cast aluminum scrap would keep steady in the following week.
With an annual consumption capacity of 100,000t, the consumer consumed about 55,000t in 2022 and expects to consume about 6,600t in March, compared with about 5,500t in February. They hold about 1,000t of stocks now.
A consumer in Central China indicated that they felt the supply of cast aluminum scrap is sufficient this week, and their inventory of the material is around 800t now, reaching their regular inventory level. "On Wednesday, a supplier offered us RMB14,880/t (USD2,156/t) Ex-VAT delivered D/P for aluminum foundry scrap Al 93%min Cu 1%min Zn 1.6max, the same as Tuesday. We purchased 60t at RMB14,880/t (USD2,156/t) Ex-VAT delivered D/P today and 30t at the same price on Tuesday," the source said, predicting that prices for Chinese cast aluminum scrap would keep stable in the coming week due to the sufficient stocks of the material at present.
With an annual consumption capacity of 150,000t, the company went into operation this February and consumed about 880t in February, expecting to consume about 3,850t in March. They hold about 800t of stocks now.
A consumer in South China revealed that they have a total of about 1,600t of aluminum scrap in plant and in transit, which reaches a normal inventory level. "On Wednesday, a supplier offered us RMB15,800/t (USD2,290/t) Ex-VAT delivered D/P for aluminum foundry scrap Al 93%min and could accept a concession of RMB100/t (USD14.49/t), while on Tuesday, the supplier refused to sell at prices lower than this level. We didn't close deals today while purchased 300t at RMB15,400/t (USD2,232/t) Ex-VAT delivered D/P on Monday," the source said, adding that cast aluminum scrap suppliers have strong intention to firm their prices for the time being, so prices for Chinese cast aluminum scrap would keep steady in the following week.
With an annual consumption capacity of 100,000t, the consumer consumed about 55,000t in 2022 and expects to consume about 6,600t in March, compared with about 5,500t in February. They hold about 1,000t of stocks now.
A consumer in Central China indicated that they felt the supply of cast aluminum scrap is sufficient this week, and their inventory of the material is around 800t now, reaching their regular inventory level. "On Wednesday, a supplier offered us RMB14,880/t (USD2,156/t) Ex-VAT delivered D/P for aluminum foundry scrap Al 93%min Cu 1%min Zn 1.6max, the same as Tuesday. We purchased 60t at RMB14,880/t (USD2,156/t) Ex-VAT delivered D/P today and 30t at the same price on Tuesday," the source said, predicting that prices for Chinese cast aluminum scrap would keep stable in the coming week due to the sufficient stocks of the material at present.
With an annual consumption capacity of 150,000t, the company went into operation this February and consumed about 880t in February, expecting to consume about 3,850t in March. They hold about 800t of stocks now.
