China's aluminum scrap prices lose ground amid weaker demand

After climbing rapidly during the past two weeks, China's aluminum scrap prices began retreating this week as downstream demand weakened, Mysteel's latest survey showed. The decline in prices is expected to be limited though, the survey results suggest.

Since early February, the strengthening of aluminum prices had provided strong upward momentum for Al scrap prices in China, Mysteel Global noted. Meanwhile, strong replenishment demand for aluminum scrap among secondary aluminum producers after the Chinese New Year (CNY) holiday also drove up prices, market sources observed. Most scrap traders