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    Bundles of aluminum beverage cans

    December 18, 2024

    Wittbecker on aluminum: A look at China's new state-owned scrap company

    Written by Greg Wittbecker

    In October, state news agency Xinhua announced the formation of a recycling company called China Resources Recycling Group (CRRG). A joint venture of a host of Chinese state-owned companies (SOEs), the venture will have $1.41 billion in capital.

    The JV will include Baowu Steel (20%), China Petrochemical (20%), Assets Supervision and Administration Commission (20%), China Resources (20%) Aluminum Corporation of China (CHALCO-10%), and China Minmetals (10%).

    Greg Wittbecker

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    AMU: Edward Meir’s week in review and thoughts for the week of Oct. 12, 2026

    Base metals had a mixed week. Tin lost almost 4% on the week, finishing at $53,000/ton. Prices dropped to a low of $51,259/ton at one point. Aluminum was another loser, off by about 1.6% on the week. Investors are expecting more aluminum supply going forward, especially out of China and Indonesia. Copper prices tacked on 1.1%. They have now recovered more than half of the $700/ton loss sustained (over the course of a week) following reports/rumors in mid-September that US tariffs on refined copper imports might not proceed after all.