Import profit margin improves; theoretical import window for aluminum alloy opens [ADC12 Price Daily Review]

Published: Oct 19, 2026 13:19 (GMT+8)

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[ADC12 price daily review: import profit margin improves, theoretical import window for aluminum alloy opens] Ex-China ADC12 offers have pulled back slightly to $3,040–3,120/mt. Supported by stronger domestic ADC12 prices and yuan appreciation, the real-time import profit margin has improved and rebounded above the break-even line. The theoretical import window has opened, and future attention should be paid to the impact of changes in ex-China offers and the exchange rate on the inflow of imported supply.

Futures: The most-traded AD2612 cast aluminum alloy contract opened at 22,930 yuan/mt today. After touching a session high of 22,935 yuan/mt in early trading, it met resistance and pulled back, with the price center moving lower in stages. In late trading, it dipped to a session low of 22,795 yuan/mt before rebounding slightly, closing the morning at 22,815 yuan/mt, up 35 yuan/mt, or 0.15%, from yesterday's settlement price.

Spot: Spot ADC12 offers moved broadly higher today. The SMM ADC12 market price rose 100 yuan/mt from last Friday to 24,500 yuan/mt. Gains in futures and primary aluminum prices helped repair market sentiment, while raw material cost support strengthened further. Market participants generally raised offers by 100 yuan/mt, and the price center rebounded somewhat. However, downstream feedback suggests end-use demand improvement remains limited, with purchases mostly need-based and acceptance of higher prices relatively constrained. Overall, the current ADC12 market reflects a pattern of cost support and improving sentiment driving a price rebound, while demand follow-through remains relatively insufficient. Prices are likely to continue moving sideways in the short term, but further upside will still depend on aluminum price trends and actual downstream purchasing.

Imports: Overseas ADC12 offers pulled back slightly to $3,040-3,120/mt. Supported by stronger domestic ADC12 prices and yuan appreciation, import breakeven improved and rebounded above the break-even line, with the theoretical import window now open. Attention should remain on changes in overseas offers and exchange rates and their impact on import arrivals.

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