Aluminum Scrap Fluctuates Rangebound, Market Transactions Weaken [Daily Review of Aluminum Scrap]

SMM, January 22:

Today, spot primary aluminum prices fell by 80 yuan/mt compared to the previous trading day, with SMM A00 spot aluminum closing at 20,240 yuan/mt. Aluminum scrap market quotations fluctuated rangebound following aluminum prices. In the short term, the fundamentals remained weak on both supply and demand. Small and medium-sized suppliers cleared their inventories and mostly entered holiday mode, while large and medium-sized enterprises continued procurement and sales. Aluminum scrap prices largely fluctuated with aluminum prices.

Today, concentrated quotations for baled UBC aluminum scrap were at 14,850-15,700 yuan/mt (excluding tax), and for shredded aluminum tense scrap were at 16,350-17,850 yuan/mt (liquid aluminum, excluding tax).

As the Chinese New Year holiday approaches, traders gradually entered holiday mode, tightening market supply. Overall transactions were moderate, and the upward trend in primary aluminum prices persisted. In the short term, the price difference between primary metal and scrap is expected to fluctuate.

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