SMM, December 30:
Today, SMM A00 spot aluminum closed at 19,700 yuan/mt, down 30 yuan/mt from the previous trading day. The aluminum scrap market mostly maintained stable quotations, with today's baled UBC aluminum scrap quoted at 14,750-15,755 yuan/mt (excluding tax) and shredded aluminum tense scrap quoted at 16,000-17,300 yuan/mt (liquid aluminum, excluding tax). Currently, the circulation of aluminum scrap both domestically and internationally remains tight. Coupled with the continued decline in aluminum prices, traders showed moderate sentiment in selling. Additionally, starting January 1, some regions will fully implement reverse invoicing, leading to strong market caution. In the short term, the overall supply of spot aluminum scrap remains limited, while downstream scrap utilisation enterprises actively restock, providing support for aluminum scrap prices. The price difference between primary metal and scrap is expected to narrow.
