Chinese cast aluminum scrap consumers hold sufficient stocks
2023-04-12 12:10:19 [Print]
BEIJING (Asian Metal) 12 Apr 23 - At present, the demand for cast aluminum scrap declines, and downstream consumers hold sufficient stocks. On Tuesday, mainstream prices for Chinese aluminum foundry scrap Al 93%min stood at RMB14,900-15,100/t (USD2,164-2,193/t) Ex-VAT delivered D/P, down by RMB100/t (USD14.52/t) from Monday. Insiders said that downstream aluminum scrap consumers are not in a hurry to replenish stocks and wait on the sidelines this week, so prices for Chinese cast aluminum scrap might move down in the coming week.
A consumer in East China revealed that the supply of cast aluminum scrap is sufficient now and they have no plan to replenish stocks in large quantities. They hold about 1,200t of cast aluminum scrap in stock now, compared with about 900t in the same period last month. "On Tuesday, we intended to purchase aluminum foundry scrap Al 93%min (containing oil) at RMB14,900/t (USD2,164/t) Ex-VAT delivered D/P, while last Friday, we could accept RMB15,000/t (USD2,179/t) Ex-VAT delivered D/P. We purchased 60t at RMB14,900/t (USD2,164/t) Ex-VAT delivered D/P today and 30t at RMB15,000/t (USD2,179/t) Ex-VAT delivered D/P last Friday," the source said, reckoning that prices for Chinese cast aluminum scrap would go down in the following week as the demand for the material keeps declining now.
With an annual consumption capacity of 150,000t, the company consumed about 41,000t in 2022 and expects to consume about 4,500t in April, compared with about 4,840t in March. They hold about 1,200t of stocks now.
Another consumer in East China indicated that their inventory of aluminum scrap increases to around 5,000t at present, far higher than about 2,000t in the same period last month. "On Tuesday, we could accept RMB14,800/t (USD2,150/t) Ex-VAT delivered D/P for aluminum foundry scrap Al 93%min, the same as Monday. We didn't close deals today while purchased 800t of Zorba aluminum scrap 98-1 at RMB14,800/t (USD2,150/t) Ex-VAT delivered D/P on Monday," the source said, adding that they have no plan to replenish stocks in the near future because they hold sufficient stocks now. They predicted that prices for Chinese cast aluminum scrap would move down in the week to come.
With an annual consumption capacity of 100,000t, the consumer consumed about 23,000t in 2022 and expects to consume about 4,400t in April, compared with about 2,200t in March. They hold about 5,000t of stocks now.
A consumer in East China revealed that the supply of cast aluminum scrap is sufficient now and they have no plan to replenish stocks in large quantities. They hold about 1,200t of cast aluminum scrap in stock now, compared with about 900t in the same period last month. "On Tuesday, we intended to purchase aluminum foundry scrap Al 93%min (containing oil) at RMB14,900/t (USD2,164/t) Ex-VAT delivered D/P, while last Friday, we could accept RMB15,000/t (USD2,179/t) Ex-VAT delivered D/P. We purchased 60t at RMB14,900/t (USD2,164/t) Ex-VAT delivered D/P today and 30t at RMB15,000/t (USD2,179/t) Ex-VAT delivered D/P last Friday," the source said, reckoning that prices for Chinese cast aluminum scrap would go down in the following week as the demand for the material keeps declining now.
With an annual consumption capacity of 150,000t, the company consumed about 41,000t in 2022 and expects to consume about 4,500t in April, compared with about 4,840t in March. They hold about 1,200t of stocks now.
Another consumer in East China indicated that their inventory of aluminum scrap increases to around 5,000t at present, far higher than about 2,000t in the same period last month. "On Tuesday, we could accept RMB14,800/t (USD2,150/t) Ex-VAT delivered D/P for aluminum foundry scrap Al 93%min, the same as Monday. We didn't close deals today while purchased 800t of Zorba aluminum scrap 98-1 at RMB14,800/t (USD2,150/t) Ex-VAT delivered D/P on Monday," the source said, adding that they have no plan to replenish stocks in the near future because they hold sufficient stocks now. They predicted that prices for Chinese cast aluminum scrap would move down in the week to come.
With an annual consumption capacity of 100,000t, the consumer consumed about 23,000t in 2022 and expects to consume about 4,400t in April, compared with about 2,200t in March. They hold about 5,000t of stocks now.
