SMM, January 8:
Today, aluminum prices fluctuated within a relatively small range. SMM A00 spot aluminum prices closed at 19,640 yuan/mt, unchanged from the previous trading day, with the aluminum scrap market remaining stable. Today's concentrated quotes for baled UBC aluminum scrap were flat compared to the previous day, at 14,750-15,525 yuan/mt (excluding tax), while shredded aluminum tense scrap quotes remained steady at 16,000-17,300 yuan/mt (excluding tax). Aluminum prices were unchanged from yesterday, and aluminum scrap prices showed little fluctuation. Currently, aluminum scrap circulation remains tight. Considering that aluminum scrap traders typically enter the Chinese New Year holiday earlier than downstream enterprises, downstream scrap utilisation enterprises are actively stocking up inventories, providing some support for aluminum scrap prices. In the short term, the price difference between primary metal and scrap is expected to fluctuate rangebound.
