Primary Aluminum Fluctuates at High Levels, Aluminum Scrap Market Awaits Recovery [Daily Review of Aluminum Scrap]

SMM, February 11:

Spot primary aluminum rose by 160 yuan/mt compared to the previous trading day, with the SMM A00 spot price closing at 20,590 yuan/mt. Aluminum scrap market quotations followed aluminum prices, with today's baled UBC aluminum scrap quoted at 15,150-15,900 yuan/mt (excluding tax) and shredded aluminum tense scrap quoted at 16,650-17,950 yuan/mt (liquid aluminum, excluding tax). In the short term, the aluminum scrap fundamentals remain weak on both supply and demand sides. Most aluminum scrap traders are still gradually resuming operations, while downstream scrap-consuming enterprises are mainly digesting inventory and have not yet resumed normal procurement. Overall market transactions are weak, and the short-term price difference between primary metal and scrap is expected to fluctuate.

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