The price of aluminum alloy rises all the way
- Editor: liefan August 31, 2019 06:00:02
Although the LME price rebounded, the price of scrap aluminum from the recycling smelter remained stable, and the domestic supply structure improved, keeping the price rising pace consistent with the end market. The only change in price was spent beverage cans, which rose from 75-77 cents per pound to 76-78 cents per pound. At the same time, on May 9, the price of mechanical aluminum alloy rose all the way. Some sellers hold raw materials and hope that LME price will rise in the short term. Other recycled aluminum prices remain unchanged.
Another producer said that they had heard that China was reducing waste aluminum consumption and that the reduction in long-term purchases would help improve the domestic supply and demand structure. At present, the purchase price is low, and it is hoped that this trend will continue. The price of 319.1 and 356.1 scrap aluminum fell 1 cent to US $1.08-1.09 and US $1.10-1.11 per pound, respectively. A413.1 dropped from US $1.10-1.11 per pound to US $1.09-1.11.
A buyer of scrap aluminum said they were lowering their offer because the supply of scrap aluminum seemed to be loose across the board and prices of all products were falling, especially as China was retreating to the second tier. On May 9, LME's original aluminum spot contract officially closed at US $1864.5 per ton (84.6 cents per pound), up 2% from US $1828 per ton on May 3.
Prices fell on Friday, officially closing at $1848 a ton. The supply of scrap aluminum has been loosened, and the price of recycled aluminum alloy fell on May 9, enabling producers to obtain raw materials at more favorable prices. One alloy manufacturer said that in the past week, they could have bought cheaper scrap aluminum because some manufacturers were eager to sell it. The price of a380.1 has remained stable in the past month, from US $1.04-1.05 per pound to US $1.03-1.05.
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