Ex-China ADC12 Prices Drop, Inversion with China Narrows but Import Window Remains Closed

Published: Jun 15, 2026 13:22

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[SMM Aluminum Flash] Currently, ex-China ADC12 quotes have pulled back to $3,350-3,410/mt, while China's prices have strengthened, easing the inverted spread between domestic and overseas markets. The immediate loss per mt has narrowed from over 3,000 yuan to around 2,500 yuan, but the inversion magnitude remains large, and the import window is still closed. It is expected that ex-China ADC12 prices still have downside room in the near term, while China's prices will continue to hold up well. The inversion is likely to narrow further, but there is still a significant gap before the import window reopens.

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