Aluminum Alloy Futures Move Sideways, Spot ADC12 Supply and Demand Stagnant [ADC12 Daily Price Review]

Futures: The aluminum alloy 2609 contract opened at 22,875 yuan/mt today. In early trading, the price bottomed out, and after a brief dip, it consolidated higher, with the daily center consistently moving above the average price line. During the session, bulls strengthened efforts to push up the price, which pulled back slightly near midday, eventually closing at 22,975 yuan/mt at midday. On the chart, open interest pulled back somewhat, and the short-term Stochastic indicator recovered, but resistance above remained evident. Overall, the futures price maintained its sideways movement pattern, with intense tug-of-war between longs and shorts.

Spot: ADC12 market quotations remained generally stable today. Cost side, compliant aluminum scrap supply remained tight, and procurement costs stayed high, providing support for ADC12 prices. Demand side, as the traditional off-season deepens, some downstream enterprises are gradually entering their high-temperature holidays, and declining orders have further weakened procurement willingness. Against the backdrop of cost support wrestling with weak demand, the market lacks new catalysts, and most enterprises choose to maintain stable quotations, waiting to see aluminum price trends and end-user order performance. The ADC12 market is expected to remain in a narrow consolidation and wait-and-see pattern in the short term.

Imports: Outside China, ADC12 quotations ranged $3,050-3,160/mt. Due to yuan strengthening, the immediate import loss per ton narrowed again to 832 yuan.