Secondary aluminum alloy prices followed aluminium prices up

Driven by the positive macroeconomic factors, SHFE aluminum prices rebounded sharply from nearly a week's decline. The spot price of SMM A00 increased by 230 yuan/mt to 18,980 yuan/mt, and ADC12 prices generally followed the increase. In terms of domestic prices, the quotations of large secondary alluminium alloy enterprises increased by 100 yuan/mt to19,600-19,900 yuan/mt; for small and medium-sized factories, prices increased by 200 yuan/mt to 19,200-19,400 yuan/mt. In terms of imports, the current quotations in Malaysia, South Korea and other regions are at a high level of around $2,380/mt. Due to the rebound in domestic prices, the immediate profit and loss of imports narrowed to 500 yuan/mt. Aluminum prices rose sharply today, specifically, secondary aluminum alloy prices generally rose by 100-200 yuan/mt. As many aluminum scarp traders gradually take CNY holidays, the material supply become increasingly tight. However, the current overall inventory of downstream warehouses is moderate. As more and more downstream enterprises shut down for CNY holiday, transactions will continue to be sluggish, and the market is worried that the demand will be stagnated. Short-term price will fluctuate slightly.