Aluminium scrap rises along with primary aluminium, market trading remains moderate
On Friday, spot primary aluminium rose by RMB 50 per tonne compared to the previous trading day, with SMM A00 spot price closing at RMB 20,600 per tonne. Aluminium scrap market quotations fluctuated rangebound following aluminium prices.
Today's concentrated quotations for baled UBC aluminium scrap were at RMB 15,050-15,850 per tonne (excluding tax), and shredded aluminium tense scrap was quoted at RMB 16,350-17,950 per tonne (liquid aluminium, excluding tax).
In the short term, with the resumption of work and production in the upstream and downstream of aluminium scrap, the pressure on aluminium scrap procurement in the market has eased.
However, constrained by the generally weak downstream demand, there has been no significant improvement, and aluminium scrap prices may fluctuate rangebound following primary aluminium.
Source: SMM
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