China's aluminum scrap prices stabilize amid weak fundamentals

After rebounding from the rapid drop earlier this month, Chinese prices for aluminum scrap remained largely stable during the past week as domestic scrap supply and demand both declined, Mysteel's latest data showed.

On April 23, for example, the average price of domestically-generated #6063 aluminum scrap in South China's Guangdong province was assessed by Mysteel at Yuan 16,100/tonne ($2,210/t), unchanged from a week earlier. The tight availability of aluminum scrap in the market provided firm support for the prices, market sources observed. Domestic