Aluminum prices fluctuate slightly, with some regions lagging behind in raising aluminum scrap quotes [Daily Review of Aluminum Scrap]

SMM News on July 11:

Today, the spot price of primary aluminum fell by 30 yuan/mt compared to the previous trading day. SMM A00 aluminum ingot closed at 20,790 yuan/mt. In the aluminum scrap market, prices in some regions were lagging behind and continued to rise. Currently, in the traditional off-season, downstream scrap utilization enterprises have weak order releases, and procurement is mainly based on immediate needs.

Today, the centralized quoted price for baled UBC aluminum scrap ranged from 15,400 to 15,900 yuan/mt (tax not included), while the centralized quoted price for shredded aluminum tense scrap ranged from 16,000 to 17,500 yuan/mt (tax not included). By product, baled UBC aluminum scrap prices rebounded by 50 yuan/mt compared to yesterday. By region, Shanghai, Jiangsu, Shandong, and other places closely followed aluminum price movements, with price adjustments ranging from 0 to 50 yuan/mt. Hunan, Guangdong, Jiangxi, Anhui, and other places had price adjustments lagging behind aluminum prices, with prices rising today. According to feedback from secondary aluminum enterprises, secondary aluminum alloy prices are currently low. Although scrap recycling is a challenge, due to poor production starts, the upside room for prices is also limited.

It is expected that next week, the aluminum scrap market will continue to fluctuate at highs, with product differentiation and regional differences persisting. Shredded aluminum tense scrap is expected to maintain price resilience due to strong supply constraints, with prices likely to fluctuate rangebound within 15,800-17,400 yuan/mt. Baled UBC aluminum scrap, constrained by weak demand in the off-season, faces significant downward pressure, with prices possibly dropping to 15,200-15,700 yuan/mt. Regionally, east China is expected to continue closely following primary aluminum price fluctuations, with daily price adjustments possibly expanding to 150-200 yuan/mt. In some inland and southern provinces (such as Jiangxi, Hunan, Guizhou, Guangdong), due to price adjustment lag and local supply and demand factors, the momentum for price increases may be insufficient, and price differences may further widen.

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