Aluminum Scrap Trading Slows Down Ahead of Holiday, Prices Fluctuate Rangebound [Daily Review of Aluminum Scrap]

SMM January 21 News: Today, spot primary aluminum rose by 60 yuan/mt compared to the previous trading day. SMM A00 spot aluminum closed at 20,320 yuan/mt. The aluminum scrap market prices fluctuated rangebound following aluminum prices. In the short term, the fundamentals maintained a tight supply situation. Small and medium-sized suppliers cleared their inventories and mostly entered the holiday state, while medium and large enterprises continued procurement and sales with relatively small price fluctuations, mostly following aluminum price trends. Today, the concentrated quotation for baled UBC aluminum scrap was 14,850-15,700 yuan/mt (excluding tax), and the concentrated quotation for shredded aluminum tense scrap was 16,350-17,850 yuan/mt (liquid aluminum, excluding tax). As the Chinese New Year holiday approaches, traders have gradually entered the holiday period, tightening market supply. Overall transactions were moderate, and the upward trend in primary aluminum prices remained. 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.