Primary Aluminum Declines While Aluminum Scrap Remains Stable; Price Difference Between Primary Metal and Scrap Narrows in East China [Daily Aluminum Scrap Review]

Dec 27, 2024, at 1:22 pm

[Daily Review of Aluminum Scrap: Primary Aluminum Declines While Scrap Remains Stable, Price Difference Between Primary Metal and Scrap Narrows in East China]

SMM, December 27: Spot primary aluminum prices dropped by 90 yuan/mt compared to yesterday. SMM A00 spot aluminum closed at 19,730 yuan/mt, down 90 yuan/mt from the previous trading day. The aluminum scrap market quotations were largely stable, with baled UBC prices rising by 50 yuan/mt compared to yesterday. Currently, large domestic manufacturers are executing long-term contracts as usual, while small enterprises remain cautious, and some companies are stockpiling for the year-end. Today, baled UBC aluminum scrap was quoted at 14,750-15,755 yuan/mt (excluding tax), and shredded aluminum tense scrap was quoted at 16,000-17,300 yuan/mt (liquid aluminum, excluding tax). In the short term, the overall supply of spot aluminum scrap in the market remains limited. Downstream restocking at low prices in the earlier period was significant, leading to weak purchase willingness for high-priced aluminum scrap. Overall market transactions were sluggish, and the price difference between primary metal and scrap in east China is expected to narrow. 》Subscribe to view historical SMM metal spot prices

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