The most-traded contract of cast aluminum alloy closed slightly higher, with bears reducing their positions during the day [Daily Commentary on ADC12 Prices]

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SMM reported on July 17:

On the futures market, today the most-traded cast aluminum alloy futures contract 2511 opened at 19,780 yuan/mt, with a high of 19,875 yuan/mt, a low of 19,755 yuan/mt, and closed at 19,845 yuan/mt, up 25 yuan/mt from the previous settlement, a gain of 0.13%. Trading volume was 1,825, and open interest was 8,279, with bears reducing their positions mainly during the day.

In the spot market, on Thursday, the SMM A00 aluminum price rose slightly by 50 yuan/mt from the previous day to 20,570 yuan/mt, while the SMM ADC12 price remained stable at 20,000 yuan/mt. Following a significant drop in aluminum prices on Monday this week, prices have rebounded slightly for three consecutive days starting from Tuesday, with a cumulative increase of 100 yuan/mt. However, the secondary aluminum market has not shown strong upward momentum, with prices continuing to remain stable. Currently, demand remains sluggish, with orders from secondary aluminum enterprises declining compared to June and weak trading performance. Overall, the undersupply of raw materials provides strong support for secondary aluminum alloy prices, but the weakness in demand restricts price increases. It is expected that the ADC12 price will maintain a fluctuating rangebound pattern in the short term.

Note: Import profit refers to real-time profit.

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