SMM, January 24:
Spot primary aluminum prices fell by 10 yuan/mt compared to the previous trading day, with SMM A00 spot aluminum closing at 20,190 yuan/mt. Aluminum scrap market quotations fluctuated rangebound following aluminum prices. In the short term, the fundamentals remained weak on both supply and demand, as most suppliers have entered the holiday mode, while a few leading companies continued procurement and sales. Aluminum scrap prices stabilized.
Today, baled UBC aluminum scrap was quoted at 14,850-15,700 yuan/mt (excluding tax), and shredded aluminum tense scrap was quoted at 16,350-17,850 yuan/mt (liquid aluminum, excluding tax).
As the Chinese New Year holiday approaches, supply and demand remain weak, overall transactions have slowed, and the short-term price difference between primary metal and scrap is expected to fluctuate within a narrow range.
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