Aluminium scrap prices remained rangebound today despite supportive spot prices on exchange platforms like LME, SHFE and MCX. A key factor behind the sudden price rise was lower inventory levels at LME-registered warehouses since the last few months. Some trade participants informed that current LME stock levels haven’t been seen for a long time, with stocks falling to 471,075 t, down 50% from the beginning of 2022.
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