Futures: The cast aluminum alloy 2611 contract opened lower at 23,615 yuan today, dipped sharply to an intraday low of 23,565 yuan before staging a V-shaped rebound. At 9:45, it shot up to 23,720 yuan, met resistance, and pulled back. After 10:15, it drifted lower to around 23,600 yuan, recovered in the final stretch, and closed the morning session at 23,630 yuan, down 10 yuan or 0.04% from yesterday's settlement price of 23,640 yuan.
Spot: ADC12 market quotes were generally steady-to-strong today, with SMM ADC12 prices up 50 yuan/mt from the previous day to 24,350 yuan/mt. Driven by higher aluminum prices and raw material costs, some enterprises raised quotes by 100 yuan/mt; however, given that end-use demand recovery remains insufficient, some enterprises opted to hold quotes steady and wait, with overall market price adjustments remaining cautious. As the traditional peak season gradually progresses, some downstream orders have improved from earlier levels, with initial signs of marginal demand-side recovery emerging, though the overall repair remains limited. In the short term, ADC12 prices are likely to continue consolidating on a strong note, with the upside depending on the sustained realization of peak-season demand and the durability of cost support.
Imports: Overseas ADC12 offers rebounded slightly to $3,050-3,200/mt. As domestic prices strengthened, import losses narrowed further to within 400 yuan/mt.
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