SMM, February 26:
Spot primary aluminum prices surged by 140 yuan/mt compared to the previous trading day, with SMM A00 spot price closing at 20,530 yuan/mt. Aluminum scrap market quotations mainly followed the rise in aluminum prices. Today, baled UBC aluminum scrap was quoted at 14,950-15,800 yuan/mt (tax excluded), and shredded aluminum tense scrap was quoted at 16,350-17,950 yuan/mt (liquid aluminum, tax excluded). In the short term, with the resumption of production in the upstream and downstream aluminum scrap market, the pressure on aluminum scrap procurement has eased to some extent. However, constrained by moderate downstream demand, there has been no significant improvement, and the increase in aluminum scrap prices remains limited.
