The peak season is expected to end, and can stock prices continue to rise. [Aluminum Scrap Daily Review]

SMM April 21 News:

Spot primary aluminum rose by 80 yuan/mt today compared to the previous trading day, with SMM A00 spot aluminum closing at 19,910 yuan/mt. The aluminum scrap market followed the rise of primary aluminum today. As the peak season is about to end, orders were affected by marginal demand decline, and raw material procurement remained as needed.

Today, baled UBC aluminum scrap was quoted at 14,950-15,550 yuan/mt (excluding tax), while shredded aluminum tense scrap was quoted at 15,850-17,350 yuan/mt (excluding tax). By product, shredded aluminum tense scrap and wheel hub removed from vehicle, among other aluminum tense scrap products, were in tight supply, with overall prices remaining high and unchanged from the previous trading day. Baled UBC, however, rose by 50 yuan/mt overall.

In the short term, the current high aluminum scrap prices are mainly due to the generally low operating rates of downstream scrap utilization enterprises and the tight domestic circulation of aluminum tense scrap, which supports aluminum scrap prices. In terms of the price difference between A00 aluminum and aluminum scrap, the price difference between A00 aluminum and mechanical casting aluminum scrap in Shanghai decreased by 28 yuan/mt WoW to 1,791 yuan/mt, while the price difference between A00 aluminum and mixed aluminum extrusion scrap free of paint in Foshan decreased by 48 yuan/mt WoW to 1,588 yuan/mt, mainly with narrow adjustments.

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