Aluminum Scrap Prices Fluctuate at Highs, Market Observes with Limited Purchasing [Daily Review of Aluminum Scrap]

SMM March 10 News: Today, spot primary aluminum fell by 70 yuan/mt compared to the previous trading day. SMM A00 aluminum ingot spot prices closed at 20,770 yuan/mt. The aluminum scrap market overall quotations fluctuated rangebound following aluminum prices. Recently, aluminum shavings and baled UBC in some regions have seen tight supply and rising prices. Today, baled UBC aluminum scrap was mainly quoted at 15,300-16,100 yuan/mt (excluding tax), and shredded aluminum tense scrap was mainly quoted at 16,450-17,950 yuan/mt (excluding tax). In the short term, with upstream and downstream resumption of work and production, the pressure on aluminum scrap procurement in the market has eased. However, constrained by moderate downstream demand and the high-level operation of primary aluminum and aluminum scrap prices, the market shows no significant improvement. Aluminum scrap prices may fluctuate rangebound following primary aluminum. » Subscribe to view SMM historical spot metal prices.