SMM, March 19:
Today, spot primary aluminum prices dropped by 200 yuan/mt compared to the previous trading day, with SMM A00 spot aluminum closing at 20,590 yuan/mt. The aluminum scrap market followed the decline significantly today; however, constrained by the lack of improvement in end-user orders, downstream maintained purchasing as needed. Today's centralized quotations for baled UBC aluminum scrap ranged from 15,100 to 16,000 yuan/mt (excluding tax), while shredded aluminum tense scrap was quoted between 16,350 and 17,850 yuan/mt (excluding tax). In the short term, the domestic aluminum scrap supply and demand remain weak, with no significant improvement expected. Coupled with the high-level fluctuation of primary aluminum and aluminum scrap prices, downstream is likely to continue purchasing as needed, and aluminum scrap prices may fluctuate rangebound following primary aluminum.
