Aluminum Scrap Prices Generally Rose Today as Suppliers Gradually Took Holidays [Daily Review of Aluminum Scrap]

Published: Jan 17, 2025 14:11

Save

[Aluminum Scrap Daily Review: Aluminum Scrap Prices Generally Rose Today as Suppliers Gradually Took Holidays]

SMM, January 17:

Today, spot primary aluminum rose by 140 yuan/mt compared to the previous trading day, with SMM A00 spot price closing at 20,340 yuan/mt. Aluminum scrap market quotations mainly followed the upward trend. In the short term, the fundamentals remain tight on the supply side, and reverse substitution of primary aluminum persists. Currently, suppliers are gradually entering the Chinese New Year holiday, reducing their enthusiasm for shipments.

Today, baled UBC aluminum scrap was quoted at 14,850-15,700 yuan/mt (excluding tax), and shredded aluminum tense scrap was quoted at 16,350-17,850 yuan/mt (liquid aluminum, excluding tax).

As the Chinese New Year holiday approaches, traders are showing reluctance to sell, and some small factories are gradually shutting down for the holiday, tightening market supply. Overall transactions were moderate. In the short term, the price difference between primary metal and scrap is expected to fluctuate rangebound.

》Subscribe to view historical SMM metal spot prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

6 hours ago

February Primary Aluminum Billet Operating Rates Hit a Nearly Four-Year Low [SMM Analysis]

[SMM Analysis: February Operating Rate of Primary Aluminum Billets Hit a Nearly Four-Year Low, Expected to Recover to Peak-Season Levels Seen in the Same Period in Previous Years in March] According to SMM statistics, the operating rate of aluminum billets in February fell sharply by 9.2 percentage points MoM to 41.4%, down 7.7 percentage points YoY. After aluminum prices surged to a record high at the end of January, they saw a sharp correction ....

6 hours ago

11 hours ago

Middle East Conflict and Trade Barriers Halt Aluminum Plate, Sheet, Strip, and Foil Exports

Among them, the Gulf region was an important consumer market for China in the Middle East: China’s exports of aluminum plate/sheet and strip to Saudi Arabia reached 42,500 mt, and aluminum foil 58,000 mt; exports of aluminum plate/sheet and strip to the UAE reached 103,500 mt, and aluminum foil 93,800 mt; the other four countries (Bahrain, Qatar, Kuwait, and Oman) accounted for combined exports of about 22,000 mt of aluminum plate/sheet and strip and about 11,000 mt of aluminum foil.

11 hours ago

13 hours ago

US Inflation Rises 0.3% in February, Matching Expectations; Fed Rate Cut Timing Unclear Amid Iran Oil Crisis

The latest US inflation data has been released, showing that seasonally adjusted CPI in February rose 0.3% MoM and was up 2.4% YoY; core CPI increased 0.2% MoM and rose 2.5% YoY, with all figures in line with market expectations. However, the prevailing market view is that the February data has not yet reflected the impact of the sharp rise in oil prices caused by the situation in Iran. Therefore, further data is still needed to support judgment on when the US Fed will cut interest rates again.

13 hours ago