Futures: Today, the most-traded AD2612 cast aluminum alloy contract opened at 23,005 yuan/mt. It dipped to 23,000 yuan/mt in early trading, matching the night session low, before stabilizing. It then drifted higher on rising volume, shot up to 23,385 yuan/mt where it met resistance, and closed the morning at 23,295 yuan/mt, down 140 yuan or 0.6% from yesterday's settlement price.
Spot: Today, the ADC12 market overall remained stable, with a fairly consistent willingness to hold prices firm. The declines in futures and aluminum prices narrowed somewhat, and market sentiment improved marginally, but the core support for current price levels still comes from the cost side. With stricter enforcement of tax invoice policies, sourcing compliant aluminum scrap has become more difficult, keeping raw material costs at a relatively high level and limiting enterprises' room to cut prices. Meanwhile, the post-holiday demand recovery still needs further verification. If end-user orders and restocking demand are released less than expected, upward momentum for spot prices will also be constrained. Overall, ADC12 prices are expected to move sideways in the short term, with continued attention needed on aluminum scrap supply and procurement cost changes, futures trends, and downstream actual order-taking.
