China's aluminum scrap prices to soften in near term

Chinese prices for aluminum scrap are expected to soften in coming weeks, pressured by waning demand for scrap materials among secondary aluminum producers, Mysteel's latest survey findings suggest.

The country's aluminum scrap prices had dropped drastically late last month in parallel with the rapid decrease in primary aluminum prices, Mysteel Global noted. On June 30, Mysteel assessed the average price for domestically-generated #6063 scrap in South China's Guangdong province at Yuan 19,000/tonne ($2,793/t), lower by 4.2% from a