SMM, February 28:
Spot primary aluminum rose by 50 yuan/mt compared to the previous trading day, with SMM A00 spot price closing at 20,600 yuan/mt. Aluminum scrap market quotations fluctuated rangebound following aluminum prices. Today's concentrated quotations for baled UBC aluminum scrap were at 15,050-15,850 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 aluminum scrap, the pressure on aluminum scrap procurement in the market has eased. However, constrained by the generally weak downstream demand, there has been no significant improvement, and aluminum scrap prices may fluctuate rangebound following primary aluminum.
