SMM, May 6 News:
Today, spot primary aluminum prices fell by 210 yuan/mt compared to the pre-holiday level. SMM A00 aluminum ingot prices closed at 19,850 yuan/mt. The overall prices in the aluminum scrap market adjusted downward in line with primary aluminum. After the Labour Day holiday, the operating rate of the secondary aluminum industry declined overall. Downstream processing enterprises faced weak order releases, with procurement mainly driven by immediate needs.
Today, the quoted prices for baled UBC aluminum scrap were concentrated in the range of 14,900-15,500 yuan/mt (tax not included), while the quoted prices for shredded aluminum tense scrap were concentrated in the range of 15,750-17,250 yuan/mt (tax not included). By product, the supply of wrought aluminum alloy scrap products such as bare bright aluminum wire and shredded wrought aluminum alloy scrap remained tight. The price adjustment range was 50-100 yuan/mt. Except for Jiangxi province, where the recycling prices for baled UBC continued to rise, prices in other regions generally increased by 100-150 yuan/mt.
In the short term, the aluminum scrap market is likely to maintain a pattern of fluctuating at highs. However, if primary aluminum experiences strong fluctuations due to macro factors (such as US Fed policies, geopolitical conflicts), or if domestic secondary aluminum enterprises implement concentrated production cuts, aluminum scrap prices may face periodic downward pressure.
