Fears on Chinese import quotas send US aluminium scrap prices down

Static trading conditions led prices for several secondary aluminium scrap grades in the United States to fall on Monday June 24, with many market participants concerned about copper and aluminium scrap import quotas issued by China last week.

Fastmarkets AMM’s price assessment for non-ferrous auto shred (twitch) was at 46-48 cents per lb on June 24, down by 2 cents from the prior assessment. This also marked a drop of 12.1% from 53-54 cents per lb one month earlier and a decline of 30.4% from 67-68 cents per lb at the same point last year. Fastmarkets AMM assessed old cast and 1-1-3 sows at 38-40 cents per lb and 46-48 cents per lb respectively, both down by 2 cents. The declines coincide with China issuing on June 20 its first batch of scrap import licenses for the third quarter to a list of 53 Chinese scrap metal importers. About...

Published

Elizabeth Ramanand

June 25, 2019

22:04 GMT

New York