Aluminum Scrap Downstream Enters Chinese New Year Holiday, Market Transactions Weaken [Aluminum Scrap Daily Review]

Published: Jan 13, 2025 17:56

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[Aluminum Scrap Daily Review: Aluminum Scrap Downstream Enters Chinese New Year Holiday, Market Transactions Weaken]

SMM, January 13:

Today, primary aluminum spot prices rose by 170 yuan/mt compared to the previous trading day, with the SMM A00 spot price closing at 20,150 yuan/mt. Aluminum scrap market quotations mainly followed the upward trend, with baled UBC prices increasing by 100 yuan/mt from yesterday. Currently, suppliers are less motivated to sell, as most small and medium-sized enterprises in downstream sectors have entered the holiday period, while large enterprises primarily maintain stable long-term contract supplies. Overall, downstream stockpiling enthusiasm before the holiday remains low.

Today, baled UBC aluminum scrap was quoted in the range of 14,850-15,725 yuan/mt (excluding tax), and shredded aluminum tense scrap was quoted in the range of 16,250-17,750 yuan/mt (liquid aluminum, excluding tax).

As the Chinese New Year holiday approaches, traders exhibit a reluctance to sell, some small factories have started their holiday breaks, and market supply has tightened, leading to average overall transactions. In the short term, the price difference between primary metal and scrap is expected to fluctuate rangebound.

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