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Last week, scrap aluminum prices continued their downward trend, and the decline was mostly concentrated at about 600 yuan, and the market panic increased
.
As can be seen from the above figure, South China fell more than 600 yuan / ton, the current local aluminum line around 16,200, machine aluminum around 13,900; other areas fell more than 400-800 yuan, the current East China market quotation, demolition spraying old material mainstream around 13900, white material around 14700, cans around 12100, aluminum wire around 16,100, down significantly
month-on-month.
In terms of the market, the market continued to decline, merchants generally reported that it was difficult to do business, and some merchants suffered serious losses and chose to stop collecting and wait and see; Due to market conditions and downstream orders, the demand for scrap aluminum raw materials has weakened, and the price pressure is obvious, mainly to consume the original inventory
.
Due to the weak downstream demand, the inventory of some aluminum alloy ingot manufacturers has obviously accumulated, coupled with the continuous decline in the price of aluminum alloy ingots, corporate profits have been significantly compressed, and even production has been reduced
.
It is also reported that due to the epidemic in Wuxi, Jiangsu, market transactions have been affected
.
The market lacks actual favorable support, short-term aluminum prices have limited room for rebound, scrap aluminum is difficult to substantially improve, and the short-term weak pattern remains unchanged
.
