SMM, February 25:
Spot primary aluminum prices dropped significantly by 200 yuan/mt compared to the previous trading day, with SMM A00 spot price closing at 20,390 yuan/mt. Aluminum scrap market quotations followed aluminum prices pulling back, but the decline was narrower than that of primary aluminum. Today's baled UBC aluminum scrap was quoted at 14,850-15,750 yuan/mt (excluding tax), and shredded aluminum tense scrap was quoted at 16,350-17,950 yuan/mt (liquid aluminum, excluding tax). In the short term, with the resumption of work and production in the upstream and downstream of the aluminum scrap market, coupled with the downward trend in absolute aluminum scrap prices, market purchasing sentiment remained moderate. Some downstream players were consuming inventory due to high alloy ingot prices. The price difference between primary metal and scrap is expected to narrow slightly in the short term.
