China's Secondary Aluminum Alloy Ingot Inventory Down 226 MT to 21,600 MT

[SMM aluminum flash] Current import ADC12 prices have pulled back to $3,230–$3,300/mt, and the domestic-ex-China inversion gap has narrowed to around 2,300 yuan/mt, the lowest level since mid-March. As prices outside China soften, import losses have recovered markedly from the earlier period. However, constrained by the still-large inversion, the import window remains closed. The willingness to bring in overseas resources is limited, and in the short term, their incremental supplement to domestic supply remains weak.

[SMM Aluminum Alloy Daily Review] Domestic ADC12 market saw stable operation today, with the SMM ADC12 price unchanged from the previous day at 23,850 yuan/mt. The bearish sentiment caused by the steady decline earlier eased, and the market entered a phase of wait-and-see. Demand side, orders at downstream die-casting enterprises remained insufficient, with off-season features persisting, which to some extent constrained price rises. Cost side, procurement of compliant aluminum scrap remained challenging, tax invoice and raw material costs stayed high, squeezing profit margins at secondary aluminum enterprises but providing strong bottom support for ADC12 prices.