China announces new customs code for Al scrap; ADC12 market sentiment dips

The bullish sentiment in China’s aluminium alloy market has been falling since the Chinese government announced new customs code for imported aluminium scrap on Monday October 19, Fastmarkets learned.

The new customs code 76020020 for renewable aluminium scrap will allow aluminium scrap importers to ship qualified aluminium scrap to China without restrictions from November 1 and this is set to continue even after China’s ban on solid waste imports comes into effect at the end of this year, Fastmarkets understands.

Fastmarkets’ latest weekly assessment of the aluminium ingot ADC 12 spot (MJP), cfr Japan price was $1,850-1,900 per tonne on Wednesday October 21, flat week on week after the news provided a relief to market participants who...

Published

Hui Li

October 21, 2020

11:42 GMT

Shanghai