SMM, February 5:
On the first trading day after the Chinese New Year holiday, SHFE aluminum moved downwards after a higher opening. Today, the spot price of primary aluminum increased slightly by 20 yuan/mt compared to pre-holiday levels, with SMM A00 spot aluminum closing at 20,140 yuan/mt. Aluminum scrap market quotations were basically flat. Today's concentrated quotations for baled UBC aluminum scrap ranged from 14,850-15,700 yuan/mt (excluding tax), while shredded aluminum tense scrap was quoted at 16,350-17,850 yuan/mt (liquid aluminum, excluding tax). After the holiday, most aluminum scrap traders have not yet resumed work, and downstream scrap-consuming enterprises are mainly digesting inventory, with normal procurement not yet restored. Overall market transactions were limited. Under weak supply and demand, the short-term price difference between primary metal and scrap is expected to remain volatile.
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