Aluminum Scrap Remained Stable Today with Downstream Purchasing as Needed [Daily Review of Aluminum Scrap]

SMM, March 13:

Today, primary aluminum spot prices rose by 10 yuan/mt compared to the previous trading day, with SMM A00 spot prices closing at 20,910 yuan/mt. The aluminum scrap market remained stable overall, with downstream purchasing as needed. Today's concentrated quotes for baled UBC aluminum scrap were at 15,250-16,150 yuan/mt (excluding tax), while shredded aluminum tense scrap was quoted at 16,450-17,950 yuan/mt (excluding tax). In the short term, domestic new 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 may fluctuate rangebound, following primary aluminum.

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