China's aluminum scrap prices to extend their gains for now

Chinese prices for aluminum scrap have been rising steadily so far this month and are expected to continue climbing during coming weeks, supported by tightening scrap supplies and steady demand from secondary aluminum smelters, Mysteel's latest survey findings show.

On May 13, Mysteel assessed the average price for domestically-generated #6063 aluminum scrap in South China's Guangdong province at Yuan 19,850/tonne ($2,993/t), higher by 1.5% from the end of last month. Scrap prices have increased in tandem with the rise in prices of primary aluminum, Mysteel Global noted. Improved market