SMM, January 17:
Today, spot primary aluminum rose by 140 yuan/mt compared to the previous trading day, with SMM A00 spot price closing at 20,340 yuan/mt. Aluminum scrap market quotations mainly followed the upward trend. In the short term, the fundamentals remain tight on the supply side, and reverse substitution of primary aluminum persists. Currently, suppliers are gradually entering the Chinese New Year holiday, reducing their enthusiasm for shipments.
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, traders are showing reluctance to sell, and some small factories are gradually shutting down for the holiday, tightening market supply. Overall transactions were moderate. In the short term, the price difference between primary metal and scrap is expected to fluctuate rangebound.
