SMM, September 30:
Today, SMM A00 aluminum prices closed at 24,030 yuan/mt, down 80 yuan/mt from the previous trading day. The aluminum scrap market fell by 0-100 yuan/mt, with some regions holding prices steady ahead of the holiday. In terms of price differences, the price difference between A00 aluminum and mixed aluminum extrusion scrap free of paint in Foshan stood at about 2,550 yuan/mt, while the price difference between A00 aluminum and shredded aluminum tense scrap was about 1,384 yuan/mt. On the import side, imported zorba prices at Ningbo Port and Tianjin Port were recorded at 21,470 yuan/mt and 21,520 yuan/mt (tax inclusive), respectively. During the week, large downstream secondary aluminum enterprises mostly maintained production through the National Day holiday, completing pre-holiday stockpiling at a normal pace. After the National Day holiday, the aluminum scrap market is expected to continue holding up well. On the supply side, aluminum scrap yards will gradually resume operations after a brief 3-5 day holiday, with scrap release expected to increase. However, recycling policies continue to constrain liquidity, and the tight invoice supply situation is unlikely to ease in the short term, with tight supply continuing to support prices. On the demand side, as the traditional peak consumption season for cast aluminum alloy gradually kicks off, enterprises are accelerating their order-taking and procurement pace. With both supply and demand tight, price support for aluminum tense scrap is expected to strengthen further. Demand for wrought aluminum alloy remains moderate, with in-factory inventory relatively ample. However, with tax audits limiting aluminum scrap supply expectations, the upward price channel is also expected to gradually open. That said, the release of peak-season demand remains relatively mild for now, and actual post-holiday order fulfillment still needs close monitoring.
