[SMM Analysis: "Reverse invoicing" has been implemented, supply has increased while demand has weakened, and the price difference between scrap aluminum and refined aluminum in the market expanded in April] SMM News on May 11th:

In April, domestic scrap aluminum prices fluctuated on the stronger side, mainly due to the good supply and demand fundamentals in the primary aluminum market, as well as macroeconomic factors that stimulated stronger price fluctuations and boosted the scrap aluminum market. However, the downstream recycled aluminum processing enterprises and remelting rod industry in the scrap aluminum industry have seen a weakening in their operating rates, resulting in poor demand for scrap aluminum. As a result, scrap aluminum prices showed weakness in following the upward trend in April. In the late April, the "reverse invoicing" policy was implemented domestically, and scrap aluminum recycling and recycled aluminum processing enterprises with a large number of natural person suppliers entered a wait-and-see state for scrap aluminum purchases.