SMM April 22 News:
Spot primary aluminum prices decreased by 30 yuan/mt compared to the previous trading day, with SMM A00 spot aluminum closing at 19,880 yuan/mt. Aluminum scrap prices remained largely unchanged from the previous trading day. As the peak season is about to end, orders were affected by marginal demand decline, and raw material procurement was maintained as needed.
Today, the concentrated quotation for baled UBC aluminum scrap was 14,950-15,550 yuan/mt (excluding tax), while shredded aluminum tense scrap was quoted at 15,850-17,350 yuan/mt (excluding tax). By product, shredded aluminum tense scrap and wheel hub removed from vehicle, among other aluminum tense scrap products, faced tight supply, with overall prices remaining at high levels, thus staying flat compared to the previous trading day. Baled UBC continued to rise by 50 yuan/mt.
In the short term, the high aluminum scrap prices are mainly due to the low operating rates of downstream scrap utilization enterprises and the tight domestic circulation of aluminum tense scrap, which supports aluminum scrap prices. In terms of the price difference between A00 aluminum and aluminum scrap, the price difference for mechanical casting aluminum scrap in Shanghai was 1,788 yuan/mt, while the price difference for aluminum extrusion scrap in Foshan was 1,548 yuan/mt, mainly showing narrow adjustments.
