Q3 2026 Japan MJP premium is $395/mt

[SMM Aluminum Alloy Express] Recently, ADC12 prices in overseas markets continued their downward trend, with quotes pulling back further to the range of $3,100-$3,200/mt today. Meanwhile, domestic ADC12 prices remained relatively firm supported by aluminum scrap costs, driving a continued recovery in the price spread between Chinese and overseas markets and further narrowing import losses. Currently, the import loss per mt of ADC12 stands at about 1,087 yuan, pulling back to the level seen in early March. If domestic prices stay high going forward while overseas markets remain under pressure and decline, the degree of price inversion between Chinese and overseas markets is expected to narrow further, potentially opening the window for import profits gradually.

Today ADC12 market quotes continued to rise overall, with the SMM ADC12 price up by 200 yuan/mt from the previous day to 24,000 yuan/mt. As spot aluminum prices and aluminum alloy futures rebounded consecutively, cost support strengthened further. Enterprises' enthusiasm for raising prices in tandem increased noticeably, and market sentiment recovered somewhat from the earlier period. On the demand side, downstream orders had yet to show significant improvement, and the overall operation remained stable. Some enterprises reported that order intake since July had changed little, with the market still dominated by just-in-time procurement.

[ADC12 Price Daily Review: Futures and Spot Prices Strengthen in Tandem, but Demand Concerns Linger; Weakening Prices Outside China Drive Continued Recovery of the Domestic-Overseas Spread] Today, quoted prices in the ADC12 market generally extended their upward trend. The SMM ADC12 price rose 200 yuan/mt from the previous day to 24,000 yuan/mt.