SMM, January 6:
Today, aluminum prices saw an expanded decline, with SMM A00 spot aluminum prices closing at 19,630 yuan/mt, down 220 yuan/mt from the previous trading day. The aluminum scrap market generally followed the downward trend. Today's concentrated quotes for baled UBC aluminum scrap were adjusted down by 0-300 yuan/mt to 14,750-15,525 yuan/mt (excluding tax), while shredded aluminum tense scrap quotes dropped by 100 yuan/mt to 16,000-17,300 yuan/mt (excluding tax). Today's aluminum scrap prices mainly followed the downward movement of aluminum prices. The price difference between primary metal and scrap slightly widened, but the circulation of aluminum scrap, especially aluminum tense scrap, remains tight. As the Chinese New Year holiday approaches, downstream scrap utilization enterprises are actively restocking, providing support for aluminum scrap prices. In the short term, the price difference between primary metal and scrap is expected to fluctuate rangebound.
