SMM, January 15:
Today, primary aluminum spot prices dropped by 140 yuan/mt compared to the previous trading day, with SMM A00 spot aluminum closing at 20,020 yuan/mt. Aluminum scrap market quotations mainly declined, but due to tight supply, prices of baled UBC in some regions rose again, increasing by 50 yuan/mt compared to yesterday. Currently, suppliers are less motivated to sell, as major downstream small and medium-sized enterprises have entered the holiday period, and large enterprises primarily focus on stable long-term contract supply. Overall, pre-holiday stockpiling enthusiasm among downstream buyers remains low.
Today, baled UBC aluminum scrap was quoted at 14,850-15,600 yuan/mt (excluding tax), and shredded aluminum tense scrap was quoted at 16,250-17,750 yuan/mt (liquid aluminum, excluding tax).
As the Chinese New Year holiday approaches, traders exhibit a reluctance to sell, some small factories have gradually closed for the holiday, and market supply has tightened, leading to average overall transactions. In the short term, the price difference between primary metal and scrap is expected to fluctuate rangebound.
