Aluminum Prices Decline, Secondary Aluminum Prices Remain Stable Amid Cost Support [Daily Review of ADC12 Prices]

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SMM News on June 24:

On the futures market, today the most-traded cast aluminum alloy futures contract 2511 opened at 19,700 yuan/mt, with a high of 19,740 yuan/mt, a low of 19,520 yuan/mt, and closed at 19,625 yuan/mt, down 55 yuan/mt or 0.28% from the previous close. Trading volume was 4,796 lots, and open interest was 8,063 lots, with bulls mainly reducing their positions during the day.

In the spot market, today's SMM ADC12 prices remained stable at 19,900-20,100 yuan/mt. Continuously suppressed by the traditional off-season, demand-side performance was weak, and market transactions were sluggish. Sluggish growth in terminal orders restrained the upward movement of ADC12 prices, compounded by intensified market competition due to the impact of low-priced supplies. However, the cost side remained relatively firm, providing some support to prices. It is expected that under the deepening impact of the off-season, ADC12 prices will remain in the doldrums in the short term, with a need to focus on changes in raw material circulation and signs of marginal improvement in demand.

In the import market, the CIF quotes for imported ADC12 remained at 2430-2470 US dollars/mt, with imported spot prices staying around 19,200 yuan/mt, and instant import losses still in the range of 700-800 yuan/mt. Local tax-excluded quotes for ADC12 in Thailand were concentrated at 82-83 Thai baht/kg.

Note: Import profits refer to real-time profits

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