Today, aluminium prices rebounded again. SMM A00 spot aluminium closed at RMB 20,690 per tonne, up RMB 90 per tonne from the previous trading day.
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Aluminium scrap market quotations were generally stable with slight increases. The quotation for baled UBC aluminium scrap rose by RMB 0-100 per tonne to RMB 15,150-15,950 per tonne (excluding tax), while shredded aluminium tense scrap was mostly quoted steadily at RMB 16,550-17,400 per tonne (excluding tax). Currently, most traders have resumed work and are actively shipping goods.
The circulation of aluminium scrap in the market continued to increase, but due to the limited rebound in end-use consumption, price follow-ups appeared to lack momentum, and the price difference between primary metal and scrap slightly widened. In the short term, the price difference is expected to maintain a slight fluctuation.
Source: SMM
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