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SMM, July 1:
On the futures market, the most-traded cast aluminum alloy futures contract 2511 opened at 19,785 yuan/mt today. In the morning session, it traded rangebound around the 19,750 yuan/mt level. In the afternoon, the futures market fluctuated upward, reaching a high of 19,860 yuan/mt, and finally closed at 19,825 yuan/mt, up 25 yuan/mt from the previous close, with a gain of 0.13%. Trading volume was 3,098, and open interest was 8,539, with bulls mainly increasing their positions during the day.
In the spot market, SMM A00 aluminum prices remained unchanged at 20,780 yuan/mt; SMM ADC12 price range held steady at 20,000-20,200 yuan/mt. Today, aluminum prices remained stable, and fluctuations in the raw material end of ADC12 were limited. Mainstream quotations in the market were mostly unchanged, but actual transactions were sluggish. Entering July, the lack of growth in downstream orders will continue to suppress the upside room for ADC12 prices. However, cost support remains strong, providing a floor for prices. In the short term, it is difficult to see an improvement in consumption. With the deepening impact of the off-season, it is expected that ADC12 prices will maintain a fluctuating rangebound pattern.
In the import market, the CIF quotations for imported ADC12 slightly held steady at $2,450-2,480/mt, the imported spot price was around 19,200 yuan/mt, and the imported real-time loss was around 800 yuan/mt. The local tax-excluded quotations for ADC12 in Thailand were concentrated at 82-83 baht/kg.
Note: Import profits refer to real-time profits.
