SMM, January 2:
Today, aluminum prices continued to rebound, with SMM A00 spot price closing at 19,870 yuan/mt, up 100 yuan/mt from the previous trading day. The aluminum scrap market maintained stable quotations or slightly followed the increase. Today's concentrated quotations for baled UBC aluminum scrap remained stable compared to the previous day at 14,750-15,825 yuan/mt (excluding tax), while shredded aluminum tense scrap prices rose by 100 yuan/mt to 16,100-17,400 yuan/mt (liquid aluminum, excluding tax). In the short term, the circulation of aluminum scrap, especially aluminum tense scrap, remains tight, leading to a faster price increase in line with aluminum prices. Downstream scrap utilisation enterprises actively restocked, providing support for aluminum scrap prices, with the price difference between primary metal and scrap mainly undergoing narrow adjustments.
