Chinese aluminum scrap prices firm on tight supply

Chinese prices for aluminum scrap strengthened during the past week as a consequence of the ongoing shortage of scrap materials nationwide at a time when replenishment demand among users remains firm, Mysteel's latest survey showed.

As of May 14, for example, the average price of domestically-generated #6063 aluminum scrap in South China's Guangdong province was at Yuan 16,400/tonne ($2,276/t), higher by Yuan 300/t from a week earlier. Aluminum scrap suppliers generally slowed their sales last week, waiting for prices to climb, market sources observed. Meanwhile, as