China aluminum scrap prices retreat in late July amid subdued demand

After strengthening earlier this month, Chinese prices for aluminum scrap moved downward toward late July as the optimism that previously boosted the market faded and downstream demand remained tepid, Mysteel's survey showed.

Mysteel assessed the average price of domestically-generated #6063 aluminum scrap in South China's Guangdong province at Yuan 16,850/tonne ($2,348/t) as of July 23, nearing an eight-month high and rising by Yuan 300/t from a month ago, before it retreated to Yuan 16,650/t on July 29. In mid-July, China's primary aluminum