Aluminum Scrap Prices Remain High, Downstream Resumption and Purchase Improve [Daily Review of Aluminum Scrap]

SMM, February 24:

Today, primary aluminum spot prices plunged by 230 yuan/mt compared to the previous trading day, with SMM A00 spot price closing at 20,590 yuan/mt. Aluminum scrap market quotations followed aluminum prices to pull back, with today's baled UBC aluminum scrap quoted at 15,050-15,850 yuan/mt (tax excluded), and shredded aluminum tense scrap quoted at 16,450-18,050 yuan/mt (liquid aluminum, tax excluded). In the short term, with the resumption of work and production completed in the upstream and downstream aluminum scrap sectors, procurement volume slightly increased compared to before. However, SMM learned that the operating rate of alloy plants remains moderate, and bargain down purchasing prices still exist. It is expected that short-term aluminum scrap price fluctuations will be limited.

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