Primary Aluminum Fluctuates at High Levels, Aluminum Scrap Prices Fluctuate Rangebound [Daily Review of Aluminum Scrap]

SMM, February 10:

Spot primary aluminum prices fell by 60 yuan/mt compared to the previous trading day, with SMM A00 spot price closing at 20,410 yuan/mt. Aluminum scrap market quotations fluctuated rangebound following aluminum prices. Today, baled UBC aluminum scrap was quoted at 14,950-15,800 yuan/mt (tax excluded), and shredded aluminum tense scrap was quoted at 16,550-17,650 yuan/mt (liquid aluminum, tax excluded). In the short term, the aluminum scrap market fundamentals remain weak on both supply and demand sides. Most aluminum scrap traders have not yet resumed operations, while downstream scrap-consuming enterprises are primarily digesting inventory and have not resumed normal procurement. Overall market transactions were limited, and the short-term price difference between primary metal and scrap is expected to fluctuate within a narrow range.

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