【Scrap Aluminum Daily Review: Scrap Aluminum Prices Continue to Rise, Downstream Buying Interest Remains Moderate, Transaction Volume Weakens】

SMM News on May 29th:

This week, the price of primary aluminum has seen three consecutive increases, with the spot price of primary aluminum once again breaking through to the 21,000 yuan/ton level. The scrap aluminum market followed the upward trend, but the extent of the increase has significantly decreased. Today, the SMM A00 spot price is quoted at 21,070 yuan/ton, up 280 yuan/ton from last Friday. Overall transaction volume in the scrap aluminum market was moderate. Deformed alloy scrap aluminum saw relatively good transactions due to some downstream users substituting scrap aluminum for primary aluminum. Cast alloy and other raw aluminum products saw poor sales due to poor operation of downstream waste utilization enterprises such as recycled aluminum alloys, and prices struggled to follow the upward trend. Hubei, Hunan...