Downstream Demand Remains Weak, Aluminum Scrap Follows Primary Aluminum in Decline [Aluminum Scrap Daily Review]

SMM  March 18 News:

Today, spot primary aluminum fell by 30 yuan/mt compared to the previous trading day, with SMM A00 spot aluminum closing at 20,790 yuan/mt. The aluminum scrap market slightly followed the decline today, with downstream maintaining purchasing as needed. Today's concentrated quotes for baled UBC aluminum scrap were at 15,250-16,150 yuan/mt (excluding tax), and for shredded aluminum tense scrap at 16,450-17,950 yuan/mt (excluding tax). In the short term, the domestic aluminum scrap supply and demand remain weak, with no significant improvement expected. Coupled with the high-level fluctuation of primary aluminum and aluminum scrap prices, downstream is only maintaining purchasing as needed, and aluminum scrap prices may fluctuate rangebound following primary aluminum.

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