SMM, January 10:
Today, aluminum prices surged strongly, with SMM A00 spot aluminum closing at 19,980 yuan/mt, up 310 yuan/mt from the previous trading day. The aluminum scrap market raised its overall quotations. Today's concentrated quotations for baled UBC aluminum scrap increased by 100 yuan/mt to 14,750-15,625 yuan/mt (excluding tax), while shredded aluminum tense scrap prices rose by 100 yuan/mt to 16,100-17,600 yuan/mt (excluding tax). Aluminum prices rebounded again to near 20,000 yuan/mt today, prompting the aluminum scrap market to actively raise quotations, though the overall increase was weaker than that of aluminum prices, leading to a slight expansion in the price difference between primary metal and scrap. As the Chinese New Year holiday approaches, traders are showing reluctance to sell, some small factories are gradually shutting down, and market supply is tightening, resulting in moderate overall transactions. In the short term, the price difference between primary metal and scrap is expected to fluctuate rangebound.
