Chinese cast aluminum scrap price to decline
2023-04-19 11:29:00 [Print]
BEIJING (Asian Metal) 19 Apr 23 - This week, the supply of cast aluminum scrap keeps sufficient in Chinese market, but the demand of downstream customers is weak. On Tuesday, mainstream prices for Chinese aluminum foundry scrap Al 93%min stood at RMB15,000-15,200/t (USD2,181-2,210/t) Ex-VAT delivered D/P, unchanged from Monday. Insiders said that downstream cast aluminum scrap consumers have less intention to replenish stocks this week, so prices for Chinese cast aluminum scrap might move down in the coming week.
A consumer in Central China revealed that they receive few aluminum alloy ingot orders now and the demand for aluminum scrap declines. They hold about 300t of stocks at present, on par with the same period last month, and they have no intention to replenish stocks in large quantities for the time being. "On Tuesday, we intended to purchase aluminum foundry scrap Al 93%min (containing oil) at RMB14,950/t (USD2,174/t) Ex-VAT delivered D/P, in line with Monday. At RMB14,950/t (USD2,174/t) Ex-VAT delivered D/P, we purchased 30t today and 60t on Monday," the source said, reckoning that prices for Chinese cast aluminum scrap would go down in the coming week due to the sufficient supply of the material at present.
With an annual consumption capacity of 50,000t, the consumer consumed about 18,600t in 2022 and expects to consume about 2,420t in April, basically the same as March. They hold about 300t of stocks now.
A supplier in North China indicated that the demand of their downstream customers for aluminum scrap keeps weak, and their inventory of cast aluminum scrap increases to around 700t now, up from about 200t in the same period last month. "On Monday, we could accept a price as low as RMB17,100/t (USD2,486/t) Inc-VAT delivered D/P for cast aluminum scrap Al 96%min, while last Friday, we would not sell the material at prices lower than RMB17,200/t (USD2,501/t) Inc-VAT delivered D/P. We didn't close deals today while sold 100t at RMB17,100/t (USD2,486/t) Inc-VAT delivered D/P on Monday," the source said, adding that the cast aluminum scrap market sees rare deals now, so prices for Chinese cast aluminum scrap might decline in the week to come.
With an annual sorting capacity of 120,000t, the supplier produced about 72,000t in 2022 and expects to sell about 6,000t in April, the same as March. They hold about 700t of cast aluminum scrap in stock now.
A consumer in Central China revealed that they receive few aluminum alloy ingot orders now and the demand for aluminum scrap declines. They hold about 300t of stocks at present, on par with the same period last month, and they have no intention to replenish stocks in large quantities for the time being. "On Tuesday, we intended to purchase aluminum foundry scrap Al 93%min (containing oil) at RMB14,950/t (USD2,174/t) Ex-VAT delivered D/P, in line with Monday. At RMB14,950/t (USD2,174/t) Ex-VAT delivered D/P, we purchased 30t today and 60t on Monday," the source said, reckoning that prices for Chinese cast aluminum scrap would go down in the coming week due to the sufficient supply of the material at present.
With an annual consumption capacity of 50,000t, the consumer consumed about 18,600t in 2022 and expects to consume about 2,420t in April, basically the same as March. They hold about 300t of stocks now.
A supplier in North China indicated that the demand of their downstream customers for aluminum scrap keeps weak, and their inventory of cast aluminum scrap increases to around 700t now, up from about 200t in the same period last month. "On Monday, we could accept a price as low as RMB17,100/t (USD2,486/t) Inc-VAT delivered D/P for cast aluminum scrap Al 96%min, while last Friday, we would not sell the material at prices lower than RMB17,200/t (USD2,501/t) Inc-VAT delivered D/P. We didn't close deals today while sold 100t at RMB17,100/t (USD2,486/t) Inc-VAT delivered D/P on Monday," the source said, adding that the cast aluminum scrap market sees rare deals now, so prices for Chinese cast aluminum scrap might decline in the week to come.
With an annual sorting capacity of 120,000t, the supplier produced about 72,000t in 2022 and expects to sell about 6,000t in April, the same as March. They hold about 700t of cast aluminum scrap in stock now.
