Aluminum prices fluctuate slightly, while the aluminum scrap market remains generally stable [Daily Review of Aluminum Scrap]

SMM July 16:

Spot primary aluminum prices rebounded slightly by 10 yuan/mt from the previous trading day, with SMM A00 aluminum ingot prices closing at 20,520 yuan/mt, while the aluminum scrap market remained flat overall. During the current off-season, downstream scrap utilization enterprises saw weak order releases and maintained rigid demand-based procurement.

Baled UBC was mainly quoted at 15,200-15,700 yuan/mt (tax excluded), and shredded aluminum tense scrap was mainly quoted at 15,900-17,400 yuan/mt (tax excluded).
According to feedback from secondary aluminum alloy enterprises, secondary aluminum alloy prices remained sluggish. Although scrap recycling posed challenges, limited operating rates also constrained upside room for prices.

The aluminum scrap market is expected to continue hovering at highs this week, with persistent product differentiation and regional disparities. Shredded aluminum tense scrap, supported by tight supply, is likely to maintain price resilience, fluctuating rangebound within 15,500-17,000 yuan/mt. Baled UBC, pressured by weak off-season demand, faces greater downward pressure, with prices potentially dipping to 15,000-15,500 yuan/mt.

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