Chinese cast aluminum scrap market witnesses rare deals
2023-03-16 11:59:44 [Print]
BEIJING (Asian Metal) 16 Mar 23 - The supply shortage of cast aluminum scrap in China was eased this week, but suppliers still refused to lower prices to sell and held back from selling. On Wednesday, mainstream prices for Chinese aluminum foundry scrap Al 93%min stood at RMB15,500-15,700/t (USD2,244-2,273/t) Ex-VAT delivered D/P, stable from Tuesday. Insiders said that downstream consumers force down prices to close deals at present and wait and see the market, so prices for Chinese cast aluminum scrap would keep firm in the coming week.
A consumer in East China revealed that they were offered RMB15,600/t (USD2,259/t) Ex-VAT delivered D/P for aluminum foundry scrap Al 93%min on Wednesday, but their target price was RMB15,300/t (USD2,215/t) Ex-VAT delivered D/P, the same as Tuesday. Suppliers hold back from selling at present, and they will replenish stocks provided the price is right. They only hold about 1,700t of cast aluminum scrap in stock now, compared with about 2,000t under normal circumstances. "We purchased 32t of die casting leftover material Al 98%min at RMB15,800/t (USD2,288/t) Ex-VAT delivered D/P this morning and 100t at the same price on Tuesday," the source said, adding that cast aluminum scrap suppliers hold back from selling and consumers are prudent to purchase at the moment, so prices for Chinese cast aluminum scrap would keep firm in the following week.
With an annual consumption capacity of 100,000t, the consumer consumed about 78,000t in 2022 and expects to consume about 7,800t in March, compared with about 6,600t in February. They hold about 1,700t of stocks now.
A consumer in Central China indicated that the supply of cast aluminum scrap is not tight at present, but quotations from suppliers are still too high, so they couldn't accept. They only hold about 300t of stocks now, compared with about 500t under normal circumstances. "On Wednesday, we received an intended price of RMB15,000/t (USD2,172/t) Ex-VAT delivered D/P for aluminum foundry scrap Al 93%min (containing oil) from a supplier, stable from Tuesday, but the supplier offered RMB15,150/t (USD2,194/t) Ex-VAT delivered D/P. We failed to close deals today, while purchased 30t at RMB15,100/t (USD2,186/t) Ex-VAT delivered D/P on Tuesday," the source said, adding that they have plan to purchase, but suppliers hold back from selling and the market sees scarce deals, so prices for Chinese cast aluminum scrap would remain firm in the week to come.
With an annual consumption capacity of 50,000t, the consumer consumed about 18,600t in 2022 and expects to consume about 2,420t in March, compared with about 1,750t in February. They hold about 300t of stocks now.
A consumer in East China revealed that they were offered RMB15,600/t (USD2,259/t) Ex-VAT delivered D/P for aluminum foundry scrap Al 93%min on Wednesday, but their target price was RMB15,300/t (USD2,215/t) Ex-VAT delivered D/P, the same as Tuesday. Suppliers hold back from selling at present, and they will replenish stocks provided the price is right. They only hold about 1,700t of cast aluminum scrap in stock now, compared with about 2,000t under normal circumstances. "We purchased 32t of die casting leftover material Al 98%min at RMB15,800/t (USD2,288/t) Ex-VAT delivered D/P this morning and 100t at the same price on Tuesday," the source said, adding that cast aluminum scrap suppliers hold back from selling and consumers are prudent to purchase at the moment, so prices for Chinese cast aluminum scrap would keep firm in the following week.
With an annual consumption capacity of 100,000t, the consumer consumed about 78,000t in 2022 and expects to consume about 7,800t in March, compared with about 6,600t in February. They hold about 1,700t of stocks now.
A consumer in Central China indicated that the supply of cast aluminum scrap is not tight at present, but quotations from suppliers are still too high, so they couldn't accept. They only hold about 300t of stocks now, compared with about 500t under normal circumstances. "On Wednesday, we received an intended price of RMB15,000/t (USD2,172/t) Ex-VAT delivered D/P for aluminum foundry scrap Al 93%min (containing oil) from a supplier, stable from Tuesday, but the supplier offered RMB15,150/t (USD2,194/t) Ex-VAT delivered D/P. We failed to close deals today, while purchased 30t at RMB15,100/t (USD2,186/t) Ex-VAT delivered D/P on Tuesday," the source said, adding that they have plan to purchase, but suppliers hold back from selling and the market sees scarce deals, so prices for Chinese cast aluminum scrap would remain firm in the week to come.
With an annual consumption capacity of 50,000t, the consumer consumed about 18,600t in 2022 and expects to consume about 2,420t in March, compared with about 1,750t in February. They hold about 300t of stocks now.
