Chinese cast aluminum scrap prices move down
2023-04-05 11:18:32 [Print]
BEIJING (Asian Metal) 5 Apr 23 - Chinese cast aluminum scrap consumers now take a wait-and-see attitude toward the market amid declining demand. Prevailing prices for Chinese aluminum foundry scrap Al 93%min were RMB15,000-15,200/t (USD2,180-2,209/t) Ex-VAT delivered D/P, down by RMB200/t (USD29.06/t) from last Friday. Insiders explained that the market sees sufficient supply this week and consumers are inactive in replenishing inventory, so prices for Chinese cast aluminum scrap might move down in the coming week.
An aluminum scrap consumer in East China claimed that they now hold inventory of around 2,300t, higher than about 1,700t in mid-March. With enough inventory, they have no plan to purchase during the week. "We got an offer for aluminum foundry scrap Al 93%min on Tuesday from a supplier who quoted RMB15,000/t (USD2,180/t) Ex-VAT delivered D/P and refused to sell at lower prices, the same as last Friday. We didn't purchase this week and last bought 64t at RMB15,700/t (USD2,281/t) Ex-VAT delivered D/P last Friday", said the consumer, adding that there is sufficient supply but weakening demand in the market, so prices for Chinese cast aluminum scrap would slide in the following week.
With an annual consumption capacity of 100,000t of aluminum scrap, they consumed nearly 78,000t in 2022 and expect to use about 8,800t in April, up from 7,800t in March. They now hold inventory of around 2,300t.
An aluminum scrap consumer in Central China said the cast aluminum scrap market sees sufficient stocks and they currently hold inventory of about 1,500t, against around 1,000t one month ago. "On Tuesday, we could accept the price as low as RMB14,800/t (USD2,151/t) Ex-VAT delivered D/P for aluminum foundry scrap Al 93%min (containing oil), in line with Monday. We purchased about 30t at RMB14,800/t (USD2,151/t) Ex-VAT delivered D/P today after selling 30t at the same price on Monday", said the consumer, adding that the market sees few deals and prices for cast aluminum scrap would decline in the coming week.
With an annual consumption capacity of 150,000t of aluminum scrap, they consumed about 75,000t in 2022 and expect to use about 3,700t this month, compared with about 3,650t in March. They now hold inventory of around 1,500t.
An aluminum scrap consumer in East China claimed that they now hold inventory of around 2,300t, higher than about 1,700t in mid-March. With enough inventory, they have no plan to purchase during the week. "We got an offer for aluminum foundry scrap Al 93%min on Tuesday from a supplier who quoted RMB15,000/t (USD2,180/t) Ex-VAT delivered D/P and refused to sell at lower prices, the same as last Friday. We didn't purchase this week and last bought 64t at RMB15,700/t (USD2,281/t) Ex-VAT delivered D/P last Friday", said the consumer, adding that there is sufficient supply but weakening demand in the market, so prices for Chinese cast aluminum scrap would slide in the following week.
With an annual consumption capacity of 100,000t of aluminum scrap, they consumed nearly 78,000t in 2022 and expect to use about 8,800t in April, up from 7,800t in March. They now hold inventory of around 2,300t.
An aluminum scrap consumer in Central China said the cast aluminum scrap market sees sufficient stocks and they currently hold inventory of about 1,500t, against around 1,000t one month ago. "On Tuesday, we could accept the price as low as RMB14,800/t (USD2,151/t) Ex-VAT delivered D/P for aluminum foundry scrap Al 93%min (containing oil), in line with Monday. We purchased about 30t at RMB14,800/t (USD2,151/t) Ex-VAT delivered D/P today after selling 30t at the same price on Monday", said the consumer, adding that the market sees few deals and prices for cast aluminum scrap would decline in the coming week.
With an annual consumption capacity of 150,000t of aluminum scrap, they consumed about 75,000t in 2022 and expect to use about 3,700t this month, compared with about 3,650t in March. They now hold inventory of around 1,500t.
