SMM August 21 news:
Today, SMM A00 spot aluminum prices closed at 23,680 yuan/mt, up 80 yuan/mt compared with the previous trading day. China's aluminum scrap market prices overall remained stable with a wait-and-see stance, following with small increases. Against the backdrop of continuously rising primary aluminum prices, aluminum scrap price fluctuations were relatively limited, and the price transmission mechanism was blocked. However, amid the recent correction in primary aluminum prices, the resilience of aluminum scrap provided an opportunity for the narrowing of the price difference between A00 aluminum and aluminum scrap. On the import and export front, according to SMM customs data, in July 2026, China's aluminum scrap imports totaled approximately 119,600 mt, down MoM from 133,000 mt in June, mainly due to the previous inversion of price spreads between Chinese and overseas markets and delays in shipping schedules, keeping the supply of high-quality scrap from outside China at a low level. Affected by the UAE's ban on aluminum scrap exports and the EU's tariff hike policy, the contraction effect of supply from Europe and the Middle East continued to manifest, further consolidating Southeast Asia's position as a major supplementary source.
It is expected that next week the aluminum scrap market will continue the pattern of demand suppression and cost support, moving sideways in a narrow range. Currently at the tail end of the traditional off-season, downstream end-user orders are unlikely to see substantial surges. Scrap utilization enterprises continue their purchasing-as-needed strategy, with a cautious procurement atmosphere, and the pre-season effect is not yet significant. Enterprises need to wait and see for subsequent order intake. The mainstream operating range for shredded aluminum tense scrap (priced based on aluminum content) is expected to hover around 19,900-20,700 yuan/mt.
