SMM, January 23:
Spot primary aluminum prices fell by 40 yuan/mt compared to the previous trading day, with SMM A00 spot aluminum closing at 20,200 yuan/mt. Aluminum scrap market quotations fluctuated rangebound following aluminum prices. In the short term, the fundamentals remain weak on both supply and demand sides. Most suppliers have entered the holiday mode, while a small number of large enterprises continue procurement and sales, keeping aluminum scrap prices stable.
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 have entered the holiday period, tightening market supply and weakening overall transactions. In the short term, the price difference between primary metal and scrap is expected to fluctuate within a narrow range.
