China's aluminum scrap prices stay rangebound

Chinese prices for aluminum scrap have been fluctuating within a narrow range during the past few weeks, constrained by the tight scrap availability in the market and the waning demand among scrap users, Mysteel's latest survey findings show.

On June 10, Mysteel assessed the average price for domestically-generated #6063 aluminum scrap in South China's Guandong province at Yuan 19,650/tonne ($2,901/t), slightly lower by 0.5% on month and unchanged from the end of May. The increasing tax burden incurred by the aluminum scrap suppliers due to the government's intensified