Aluminum scrap downstream enterprises took a wait-and-see attitude amid moderate transactions [Aluminum Scrap Daily Review]

Today’s primary aluminum market prices fluctuated within a narrow range, and the market spot supply is ample. The primary aluminum spot market maintains a discount. The SMM A00 price is stable compared with yesterday and closed at 19,250 yuan/ton. Today’s aluminum scrap price is generally stable. The holders mainly shipped goods at stable prices, but the overall supply of scrap aluminum in the industry is tight, especially for old extrusion and shredded aluminium scarp. The market supply is tight, and some holders are reluctant to sell at high prices. The purchasing prices of downstream scrap users were stable. In the re-melting aluminum ingot market, the prices were generally stable today. SMM Ningbo Port re-melting aluminum ingots prices closed at 18,150 yuan/ton, which was about 1,100 yuan/ton lower than the average price of SMM A00. The market supply has increased recently, and domestic aluminum prices are generally strong, and traders are actively shipping. In the short term, the market price of primary aluminum and aluminum scrap may swing on a strong note, and downstream aluminum scrap users have poor profits and are mainly purchasing at bargain prices. The aluminum scrap market may be affected by downstream demand and is unable to follow the increase, and the price difference between A00 aluminum and aluminium scrap may be widening.