EU aluminium scrap prices hit 10-year low on China scrap import crackdown [CORRECTED]

European aluminium scrap prices universally dipped on Friday September 6 with the effects of China’s moratorium on non-ferrous scrap imports finally being felt amid a loosening scrap supply picture.

China announced a more stringent approach to non-ferrous scrap imports starting on July 1, 2019, with some participants at the time believing the move would have a negligible impact on the European secondary aluminium market since good quality secondary aluminium products are mostly consumed domestically. But while ingot prices have held, some market participants failed to acknowledge the impact that the crackdown would have on European scrap prices with material from the United States now being diverted from China to Europe. Traditional summer shutdowns across European aluminium smelters delayed the impact on European prices, but the flow of material from the US to Europe is now adding to...

Published

Amy Hinton

September 09, 2019

16:05 GMT

London