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Today, spot primary aluminum prices rose by 30 yuan/mt compared to the previous trading day. SMM A00 aluminum ingot prices closed at 20,810 yuan/mt, while aluminum scrap market prices remained stable overall. Amid the traditional off-season, downstream scrap utilization enterprises are experiencing weak order releases, with procurement primarily driven by immediate needs.
Today, the centralized quoted price for baled UBC aluminum scrap ranges from 15,300 to 15,800 yuan/mt (tax not included), while the centralized quoted price for shredded aluminum tense scrap ranges from 15,800 to 17,300 yuan/mt (tax not included).
In terms of the price difference between A00 aluminum and aluminum scrap, the price difference between A00 aluminum and mixed aluminum extrusion scrap free of paint in Foshan increased by 40 yuan/mt compared to yesterday, reaching 1,797 yuan/mt. The price difference between A00 aluminum and mechanical casting aluminum scrap in Shanghai decreased by 24 yuan/mt compared to yesterday, narrowing to 1,823 yuan/mt.
Considering the difficulty in actual shipments, aluminum scrap suppliers are adopting a cautious and wait-and-see attitude towards price adjustments amid the high-level fluctuations in aluminum prices. This week, the aluminum scrap market will continue to exhibit a pattern of high-level fluctuations. Supported by tight supply, shredded aluminum tense scrap prices demonstrate strong resilience and are expected to fluctuate rangebound within the 15,800 to 17,400 yuan/mt range. Baled UBC aluminum scrap, on one hand, observes aluminum price trends and, on the other hand, pays attention to the degree of market supply shortage. The author believes that, under the current off-season background, baled UBC aluminum scrap will still fluctuate at highs, but the upside room will be relatively limited.
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