Aluminum Prices Continue to Rise, with Some Aluminum Scrap Prices Following Suit [Daily Review of Aluminum Scrap]

SMM, February 20:

Today, aluminum prices rebounded again. SMM A00 spot aluminum closed at 20,690 yuan/mt, up 90 yuan/mt from the previous trading day. Aluminum scrap market quotations were generally stable with slight increases. The quotation for baled UBC aluminum scrap rose by 0-100 yuan/mt to 15,150-15,950 yuan/mt (excluding tax), while shredded aluminum tense scrap was mostly quoted steadily at 16,550-17,400 yuan/mt (excluding tax). Currently, most traders have resumed work and are actively shipping goods. The circulation of aluminum scrap in the market continued to increase, but due to the limited rebound in end-use consumption, price follow-ups appeared to lack momentum, and the price difference between primary metal and scrap slightly widened. In the short term, the price difference is expected to maintain a slight fluctuation.

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