ADC12 Market Offers Stable Amid Weak Demand and High Raw Material Costs

[ADC12 Price Daily Review: Supply-Demand Stagnation Keeps ADC12 Price Moving Sideways] Today, the overall ADC12 market offer was stable. The SMM ADC12 price remained steady at 23,950 yuan/mt from the previous trading day.

[SMM Aluminum Express News] Emirates Global Aluminium (EGA) has restarted 315 of the 1,262 reduction cells at its Al Taweelah smelter, bringing the restoration to 25% as of August 26. The site was forced into an emergency shutdown following the March 28 attack on Khalifa Economic Zone Abu Dhabi. EGA is now restoring all three potlines in parallel, with Potline 1 energized on May 26, Potline 3 on July 13 and Potline 2 on August 3. Each restarted cell typically requires around one week to stabilize and reach full production. EGA expects Al Taweelah primary aluminum production to return to full capacity in Q1 2027, with around 1,000 people currently involved in the restoration. Progress has accelerated from 89 cells restarted as of July 2, to 227 cells or 18% by August 10, and now 315 cells or 25%. Some of the recovered hot metal is being used to restart additional cells, while the remaining metal is sent to the Al Taweelah casthouse for finished aluminum production. Meanwhile, the Al Taweelah alumina refinery remains at around 50% of capacity, and EGA said further ramp-up will depend on supply-chain conditions and optimization of its alumina sourcing strategy. Importantly, EGA said the smelter's recovery does not depend on the alumina refinery returning to full capacity, meaning external alumina sourcing can support the aluminum restart. The Al Taweelah recycling plant is also ramping up, with full production targeted by late Q4 2026.

[SMM Flash]Today, SHFE aluminum futures rose for consecutive sessions. Against the backdrop of high aluminum prices, buying sentiment among downstream processing enterprises in central China was low, with a focus on delaying purchases to reduce in-factory inventory. Meanwhile, both premiums and absolute prices stayed high. Suppliers actively shipped goods, showing no significant intention to hold prices firm, leading to a price collapse in the market. Overall, actual transaction prices in the central China market centered on a premium of -80 to -120 yuan/mt against the SHFE aluminum September contract.