Aluminum prices adjusted within a narrow range, with secondary aluminum prices showing weak change [Daily Review of ADC12 Prices]

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SMM News on June 25:

On the futures market, today the most-traded cast aluminum alloy futures contract 2511 opened at 19,625 yuan/mt. After dipping to a low in the morning session, prices rebounded, showing an overall trend of first declining and then rising, fluctuating upward. Prices surged towards the close, ending at the day's high of 19,700 yuan/mt, up 75 yuan/mt or 0.38% from the previous close. Trading volume was 3,694 lots, and open interest was 7,903 lots, with bears reducing their positions mainly during the day.

In the spot market, today's SMM ADC12 prices remained stable at 19,900-20,100 yuan/mt. Suppressed by the ongoing traditional off-season, demand side performance was weak, and market transactions were sluggish. Sluggish growth in terminal orders constrained the upward movement of ADC12 prices, compounded by intensified market competition due to the impact of low-priced supplies. However, the cost side remained firm, providing some support to prices. With little improvement expected in short-term consumption and the deepening impact of the off-season, it is anticipated that ADC12 prices will remain in the doldrums. Close attention should be paid to changes in raw material circulation and signs of marginal improvement in demand.

In the import market, the CIF quote for imported ADC12 remained at 2430-2470 US dollars/mt, and the imported spot price stayed around 19,200 yuan/mt, with the immediate import loss still in the range of 700-800 yuan/mt. The local tax-excluded quote for ADC12 in Thailand was concentrated at 82-83 Thai baht/kg.

Note: Import profit refers to real-time profit.

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