After Five Consecutive Declines, Aluminum Prices Rebound with a Slight Widening in the Price Difference Between Primary Metal and Scrap [Daily Review of Aluminum Scrap]

Dec 20, 2024, at 2:02 pm

[Daily Review of Aluminum Scrap: Aluminum Prices Rebound After Five Consecutive Declines, Price Difference Between Primary Metal and Scrap Slightly Widens]

SMM, December 20: Aluminum prices rebounded today, with aluminum scrap prices generally following the upward trend. Today, SMM A00 spot aluminum prices closed at 19,830 yuan/mt, up 150 yuan/mt from yesterday. Domestic aluminum scrap prices increased by 0-100 yuan/mt, with a slight expansion in the price difference between primary metal and scrap. Today, baled UBC aluminum scrap rose by 100 yuan/mt to 15,000-15,520 yuan/mt (excluding tax), while shredded aluminum tense scrap prices increased by 100 yuan/mt to 16,000-17,000 yuan/mt (liquid aluminum, excluding tax). Re-melting ingot prices rose by 50-100 yuan/mt along with aluminum prices. Recently, there has been an inversion in overseas re-melting ingot imports, and future port arrivals of re-melting ingots are expected to decline. In the short term, due to weather conditions, some yards have reduced their purchasing activity. Additionally, constraints such as port clearance delays and the inverted price spread between domestic and overseas markets have limited the replenishment of imported aluminum scrap, resulting in continued tight circulation of aluminum scrap. Under the undersupply situation, short-term aluminum scrap prices remain firm, with the price difference between primary metal and scrap fluctuating rangebound. 》Subscribe to view SMM historical spot metal prices

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SMM

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