Aluminum Prices Rebound Sharply, Aluminum Scrap Mainly Rises Across the Board [Daily Review of Aluminum Scrap]

SMM March 6 News:

Spot primary aluminum prices surged by 250 yuan/mt compared to the previous trading day, with SMM A00 spot prices closing at 20,800 yuan/mt. Aluminum scrap market quotations mainly increased, with baled UBC aluminum scrap prices rising by 100-250 yuan/mt to 15,250-15,950 yuan/mt (excluding tax), and shredded aluminum tense scrap prices increasing by 100 yuan/mt to 16,350-17,950 yuan/mt (excluding tax). As aluminum prices climbed rapidly, the increase in aluminum scrap prices lagged behind, leading to a slight expansion in the price difference between primary metal and scrap. Aluminum scrap traders were actively selling, but downstream scrap utilisation enterprises showed weak demand, resulting in overall moderate market transactions. In the short term, aluminum scrap prices are expected to continue to fluctuate rangebound following primary aluminum prices.

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