ADC12 Market Stable Amid Tight Scrap Supply and Weak Demand, Prices Expected to Move Sideways

Reuters columnist Andy Home noted that the Al Taweelah site of the UAE's Emirates Global Aluminium (EGA), which was hit by a missile attack, has started the production resumption process, and the alumina refinery is expected to resume production this quarter; 89 of the 1,262 pots had been restarted by July 2. The Aluminium Bahrain (Alba) smelter was also attacked, and its production resumption progress remains unclear; Qatalum in Qatar is operating at only 60% of capacity. According to the International Aluminium Institute, total aluminum production in the Gulf region fell 20% YoY in H1 2026, and after the conflict erupted, the region's annualized aluminum production cuts exceeded 2 million mt. Even if the situation eases, it will still take months for the industry to fully resume production.

Qiya Group is accelerating the integrated investment project for mining and supporting port facilities in the Republic of Côte d'Ivoire. The project is planned with an investment scale of tens of billions of yuan, integrating multi-metal ore mining, construction of a dedicated bulk cargo terminal, and ocean-going logistics and storage functions, dedicated to building a transnational industrial closed loop of "West Africa overseas resource base—China smelting and processing base". It is worth noting that proven reserves of high-grade bauxite in the Republic of Côte d'Ivoire exceed 1.2 billion mt, and are also associated with a variety of critical mineral resources such as gold, manganese, iron, and rare earths.

[ADC12 Price Daily Review: Aluminum Alloy Futures Move Sideways, ADC12 Spot Supply and Demand in Stalemate] Today, ADC12 market quotations remained stable overall. Cost side, compliant aluminum scrap supply remained tight, procurement costs stayed high, supporting ADC12 prices; demand side, as the traditional off-season deepened further, some downstream enterprises successively entered high-temperature holidays, and order shrinkage led to procurement enthusiasm weakening further.