Aluminum Prices Continue to Pull Back, with a Slight Narrowing in the Price Difference Between Primary Metal and Scrap [Daily Review of Aluminum Scrap]

SMM, March 5:

Today, spot primary aluminum dropped by 50 yuan/mt compared to the previous trading day. SMM A00 spot price closed at 20,550 yuan/mt. Aluminum scrap market quotations weakened slightly overall. Today's baled UBC aluminum scrap prices were adjusted down by 0-50 yuan/mt to 15,000-15,850 yuan/mt (excluding tax), while shredded aluminum tense scrap prices remained flat at 16,350-17,950 yuan/mt (excluding tax). Due to the continued downward fluctuation in aluminum prices, aluminum scrap, especially aluminum tense scrap prices, remained firm, and the price difference between primary metal and scrap continued to narrow slightly. Currently, aluminum scrap traders are actively selling, but downstream scrap utilization enterprises' demand is below expectations, focusing on bargain down purchasing prices. Overall market transactions were moderate. In the short term, aluminum scrap prices are expected to continue to fluctuate rangebound, following primary aluminum.

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