May 2018 | Aluminium Weekly Market Tracker
Al price in consolidation mode last week: Market Summary and Analysis
The Chinese government’s latest decision to slap a one-month ban on non-ferrous scrap imports from the US took effect on May 3 and will last until June 4.
The global aluminium market continues to face a challenging and ever-changing landscape, bogged by tit-for-tat protectionist policies and trade sanctions. As such, the outlook remains hazy and prices are attempting to consolidate after recent volatility. The weekly average LME aluminium cash price was $2,283.2/tonne last week, up slightly from the previous weeks average of $2,275/tonne. China slaps one-month import ban on US scrap The Chinese governments latest decision to slap a one-month ban on non-ferrous scrap imports from the US took effect on May 3 and will last until June 4. The decision came amid the arrival of the US delegation to Beijing last week to discuss a potential trade deal. But with Chinese aluminium alloy producers heavily reliant on US scrap, domestic scrap prices are likely to increase. US unwrought al imports reached new highs Latest trade data showed that US imports of unwrought aluminium reached new highs in...
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