RMB Exchange Rate Rises, Immediate Losses on Imported ADC12 Narrow Again [Daily Review of ADC12 Prices]

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[RMB exchange rate rises, instant losses on imported ADC12 narrow again] Today, the SMM A00 aluminum price dropped back slightly by 20 yuan/mt from the previous trading day to 20,350 yuan/mt, while the domestic SMM ADC12 price remained stable within the range of 20,300-20,500 yuan/mt. In the import market, the CIF quotes for imported ADC12 were mostly in the range of $2,380-2,400/mt. Affected by the RMB exchange rate hitting a new six-month high, the instant losses on imported ADC12 narrowed to within 100 yuan; the local tax-excluded quote for ADC12 in Thailand remained stable WoW at 82.5 Thai baht/kg. In the short term, secondary aluminum alloy prices are expected to maintain a pattern of fluctuating rangebound. The weak demand side continues to constrain the upside room for prices, yet cost support still exists. Going forward, it is necessary to closely track the raw material supply situation, changes in order volumes, and the progress of production cuts by secondary aluminum enterprises.

Note: Import profits are real-time profits

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