New imports relieve China’s aluminium scrap shortage; ADC12 export price falls

The tightness in China’s domestic market for aluminium scrap has slightly eased week on week with more aluminium scrap cargoes arriving in the country, Fastmarkets learnt on Wednesday November 4.

The change came after Chinese producers of aluminium ADC12 were allowed to import qualified aluminium scrap based on a new customs code that came into effect on November 1.
“We stored some volumes of standard-compliant aluminium scrap in our Hong Kong [premises] earlier, and started importing into the mainland market once the new code took effect,” one aluminium ADC12 exporter said. “The cargoes have already arrived at our factory.”
Several market participants noted that the domestic aluminium scrap price stopped climbing on Tuesday, holding steady around 13,500 yuan ($2,020) per tonne.

The aluminium scrap...

Published

Hui Li

November 04, 2020

16:25 GMT

Shanghai