Aluminum prices have risen sharply, while the overall increase in aluminum scrap prices has been limited [Daily Review of Aluminum Scrap]

Today, spot primary aluminium prices rose sharply by 280 per tonne compared to the previous trading day. SMM A00 aluminium ingot prices closed at 20,890 per tonne. Aluminum scrap market prices generally followed the upward trend, but the increase was limited. Currently in the traditional off-season, downstream scrap utilization enterprises are experiencing weak order releases, with procurement mainly driven by immediate needs.

Today, the quoted prices for baled UBC aluminium scrap are concentrated in the range of 15,300-15,800 per tonne (tax not included), while the quoted prices for shredded aluminium tense scrap are concentrated in the range of 15,900-17,400 per tonne (tax not included). Regionally, Shanghai, Jiangsu, Shandong, Henan, and other regions closely followed aluminium price movements, with price adjustments ranging from 200-250 per tonne. Jiangxi, Foshan, and other regions lagged behind in price adjustments, with adjustments ranging from 100-200 per tonne depending on the product. By product, baled UBC aluminium scrap and shredded aluminium tense scrap prices rose slightly by 100 per tonne compared to yesterday. New wrought aluminium alloy scrap and clean tapping aluminium wire prices rose by 200 per tonne compared to yesterday, closely following the upward trend of primary aluminium.

In terms of the price difference between A00 aluminium and aluminium scrap, the price difference between A00 aluminium and mechanical casting aluminium scrap in Shanghai rose by 8 per tonne compared to yesterday, expanding to 1,848 per tonne. The price difference between A00 aluminium and aluminium extrusion scrap in Foshan increased by 180 per tonne compared to yesterday, expanding to 1,738 per tonne.

Considering the actual difficulty in shipping goods, aluminium scrap suppliers are adopting a cautious and wait-and-see attitude towards price adjustments amid the high-level fluctuations of aluminium prices. Next week, the aluminium scrap market is expected to continue its pattern of high-level fluctuations.

Note: This article has been issued by SMM and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.