Demand Is Average, Downstream Purchasing As Needed; Aluminum Scrap Prices Have Limited Increase Following the Trend [Daily Aluminum Scrap Review]

SMM  March 12 News:

Spot primary aluminum rose by 190 yuan/mt compared to the previous trading day, with SMM A00 spot aluminum closing at 20,900 yuan/mt. The overall aluminum scrap market quotations followed the rise in aluminum prices, but due to the lack of improvement in demand from downstream alloy plants, purchasing remained as needed, and the increase in aluminum scrap prices was limited. Today, baled UBC aluminum scrap was quoted at 15,300-16,100 yuan/mt (excluding tax), and shredded aluminum tense scrap was quoted at 16,450-17,950 yuan/mt (excluding tax). In the short term, domestic new aluminum scrap supply showed some improvement, but constrained by moderate downstream demand and the high-level operation of primary aluminum and aluminum scrap prices, downstream and end-use demand remained weak. Aluminum scrap prices are expected to fluctuate rangebound following primary aluminum prices.

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