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SMM reported on July 11:
On the futures market, the most-traded cast aluminum alloy futures contract 2511 opened at 19,945 yuan/mt today, with a high of 20,050 yuan/mt and a low of 19,780 yuan/mt, closing at 19,915 yuan/mt, down 10 yuan/mt from the previous close, a decrease of 0.01%. The trading volume was 3,038, and the open interest was 8,851. Bears dominated the increase in open interest during the day.
In the spot market, today's SMM A00 aluminum price fell by 30 yuan/mt from Thursday to 20,790 yuan/mt. The secondary aluminum market maintained stable quotes, with SMM ADC12 prices remaining unchanged at 20,100 yuan/mt. Recently, the supply of aluminum scrap has tightened both domestically and overseas, significantly increasing the difficulty for secondary aluminum plants to procure raw materials. Competition for "scrambling for materials" in the market has intensified, while production costs continue to rise, and the scope of production losses for enterprises continues to expand, leading to upward adjustments in quotes from manufacturers. Due to the dual constraints of raw material shortages and weakening demand, several secondary aluminum manufacturers have been forced to cut production, with some even entering a state of shutdown. Overall, strong cost support and weak demand continue to battle, and it is expected that the overall price of ADC12 will maintain a fluctuating rangebound pattern in July.
Note: Import profit refers to real-time profit
