Traders said on Tuesday that the prices of scrap aluminum in Western Europe have been mixed in the past few weeks. The steady demand for primary metal smelters has benefited the high quality scrap prices, while the low-quality scrap prices have fallen under the influence of reduced consumption.
A Dutch trader pointed out that in terms of price, the best project is a higher-quality project, and most smelters currently pay a price of about 50 euros more than the London Metal Exchange (LME) price. He said, but because The industry is in a rather sluggish state, and the demand for low-quality scrap aluminum has slowed. However, traders said that despite the previous tight supply of aluminum scrap to the Asian market, especially China, the appreciation of the euro against the US dollar recently led to exports. The amount is suppressed.
A German trader said that the vast majority of low-quality scrap aluminum and a large number of secondary aluminum ingots are sold to the Far East. However, because the euro strengthened, the dollar plunged, causing China and Japan to purchase more from the United States Traders in Europe pointed out that the recent reduction in exports to the Asian market put pressure on the price of scrap aluminum. According to industry reports, China has replaced Japan as the major Asian aluminum importer in the past few years. The EU in the first half of 2002 Of the more than 83,000 tons of waste aluminum exported, 50,000 tons are sold to East Asia. The price of industrial waste aluminum in the euro area has fallen by about 100 to 1,150 tons per ton.
** The price rise of high quality scrap aluminum is difficult to sustain**
However, high-quality scrap aluminum is still widely welcomed by primary smelters.
Metals analysts at CRU International pointed out that because smelters may still have contracts that need to be implemented, they may still maintain demand for high-quality scrap aluminum in the short term. However, given the overall market conditions are depressed, this situation will continue to increase. The length is doubtful. Traders said that due to the seasonal stoppage and the euro's upward trend is expected to continue, we are not optimistic about this summer's views.
A Dutch trader pointed out that in terms of price, the best project is a higher-quality project, and most smelters currently pay a price of about 50 euros more than the London Metal Exchange (LME) price. He said, but because The industry is in a rather sluggish state, and the demand for low-quality scrap aluminum has slowed. However, traders said that despite the previous tight supply of aluminum scrap to the Asian market, especially China, the appreciation of the euro against the US dollar recently led to exports. The amount is suppressed.
A German trader said that the vast majority of low-quality scrap aluminum and a large number of secondary aluminum ingots are sold to the Far East. However, because the euro strengthened, the dollar plunged, causing China and Japan to purchase more from the United States Traders in Europe pointed out that the recent reduction in exports to the Asian market put pressure on the price of scrap aluminum. According to industry reports, China has replaced Japan as the major Asian aluminum importer in the past few years. The EU in the first half of 2002 Of the more than 83,000 tons of waste aluminum exported, 50,000 tons are sold to East Asia. The price of industrial waste aluminum in the euro area has fallen by about 100 to 1,150 tons per ton.
** The price rise of high quality scrap aluminum is difficult to sustain**
However, high-quality scrap aluminum is still widely welcomed by primary smelters.
Metals analysts at CRU International pointed out that because smelters may still have contracts that need to be implemented, they may still maintain demand for high-quality scrap aluminum in the short term. However, given the overall market conditions are depressed, this situation will continue to increase. The length is doubtful. Traders said that due to the seasonal stoppage and the euro's upward trend is expected to continue, we are not optimistic about this summer's views.
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