China's aluminum scrap prices strengthen on tight supply

Chinese prices for aluminum scrap have been rising steadily over the past few weeks, lifted higher by tight availability of scrap materials in both domestic and overseas markets, the results of Mysteel's survey showed. The prices are expected to continue to fluctuate at high levels in the coming month, the survey findings suggest.

On July 31, Mysteel assessed the average price for domestically-generated #6063 aluminum scrap in South China's Guangdong province at Yuan 19,500/tonne ($2,891/t), higher by 3.7% from a week earlier. Entering this month, the price increased further to reach Yuan 19,600/t as of August 11. With the central government's scrutiny of