Aluminum Scrap Prices Slightly Increase Amid Stability, Market Transactions Remain Average [Daily Review of Aluminum Scrap]

SMM, March 3:

Today, primary aluminum spot prices rose by 30 yuan/mt compared to the previous trading day. SMM A00 spot price closed at 20,630 yuan/mt. Aluminum scrap market quotations followed aluminum prices with slight increases. Today's concentrated quotations for baled UBC aluminum scrap were at 15,050-15,850 yuan/mt (excluding tax), while shredded aluminum tense scrap prices rose by 0-50 yuan/mt to 16,350-17,950 yuan/mt (excluding tax). Currently, aluminum scrap traders are showing positive sentiment in shipments, but downstream scrap utilisation enterprises' demand is below expectations, primarily engaging in bargain down purchasing prices, with overall transactions being moderate. In the short term, aluminum scrap prices are expected to continue to fluctuate rangebound with primary aluminum.

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