SMM News, January 9:
Today, aluminum prices saw a slight increase, with SMM A00 spot aluminum closing at 19,670 yuan/mt, up by 30 yuan/mt from the previous trading day. The aluminum scrap market overall showed a slight uptick. Today's concentrated quotes for baled UBC aluminum scrap rose by 0-100 yuan/mt compared to the previous day, reaching 14,850-15,525 yuan/mt (excluding tax), while shredded aluminum tense scrap quotes remained stable at 16,000-17,300 yuan/mt (excluding tax). Aluminum prices fluctuated rangebound today, with aluminum scrap prices showing no significant volatility, generally following the slight increase in aluminum prices. Currently, the circulation in the aluminum scrap market remains tight. Considering that aluminum scrap traders typically enter the Chinese New Year holiday earlier than downstream enterprises, downstream scrap utilization 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 within a narrow range.
