Secondary aluminum prices are weak to follow the growth amid sluggish consumption

Affected by the news of a sudden power outage in an aluminum smelter, the most-traded SHFE aluminum surged in early trading today, and then fell back. The spot price of SMM A00 increased by 110 yuan/ton from yesterday to 18,810 yuan/ton, and the secondary aluminium prices were stable. In terms of domestic prices, the quotations of large domestic secondary aluminum alloy companies increased by 0-100 yuan to 19,600-19,900 yuan/ton; for small and medium-sized factories, the quotations have mostly stayed within the range of 19,300-19,400 yuan/ton. In terms of imports, the current quotation of ADC12 in Malaysia, South Korea and other regions is in the range of $2,320-2,360/ton, and imports still have immediate losses within 200 yuan/ton. Aluminum prices rose back to above 18,800 yuan/ton today, while the price adjustment sentiment in the secondary aluminum market is weak. Currently, downstream orders have not fully recovered, and ADC12 prices are under upward pressure due to insufficient demand. After Feb 24, aluminium scrap traders basically resumed work, but prices remained high, and the pressure on the raw material of secondary aluminum plants was limited. In the short term, secondary aluminum alloy prices are expected to fluctuate within a narrow range.