SMM, January 7:
Today, aluminum prices halted their decline and remained relatively stable. SMM A00 spot aluminum prices closed at 19,640 yuan/mt, up 10 yuan/mt from the previous trading day. The aluminum scrap market mainly operated steadily. Today's quoted prices for baled UBC aluminum scrap remained unchanged from the previous day at 14,750-15,525 yuan/mt (excluding tax), while shredded aluminum tense scrap prices were stable at 16,000-17,300 yuan/mt (excluding tax). Aluminum prices fluctuated within a relatively small range today, and the overall aluminum scrap market remained stable. Currently, the circulation of aluminum scrap, especially aluminum tense scrap, is tight. As the Chinese New Year holiday approaches, downstream scrap utilization enterprises are actively restocking, providing support for aluminum scrap prices. In the short term, the price difference between primary metal and scrap is expected to fluctuate rangebound.
