SMM, February 7:
Spot aluminum prices continued to rebound today, with primary aluminum spot prices rising by 240 yuan/mt compared to the previous trading day. SMM A00 spot aluminum closed at 20,470 yuan/mt, and aluminum scrap market quotations remained on an upward trend. Today, baled UBC aluminum scrap increased by 100 yuan/mt to 14,850-15,800 yuan/mt (excluding tax), while shredded aluminum tense scrap was quoted at 16,450-17,100 yuan/mt (liquid aluminum, excluding tax). Currently, most aluminum scrap traders have not resumed operations, and downstream scrap-consuming enterprises are primarily digesting inventory and have not yet returned to normal procurement activities, resulting in limited overall market transactions. Under weak supply and demand, the short-term price difference between primary metal and scrap is expected to remain volatile.
