The most-traded aluminum alloy contract sees an opening plunge, lacks momentum for a rebound, and keeps within a seesaw range [ADC12 Price Daily Review]

Published: Jul 28, 2026 12:02

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[ADC12 Daily Price Review: Aluminum Alloy Most-Traded Contract Opens with a Plunge, Lacks Momentum for a Rebound, and Maintains a Sideways Tug-of-War] Under the dual effects of cost support and weak demand, the short-term ADC12 price is expected to continue to move sideways. The market is monitoring the subsequent recovery of end-use demand and changes in raw material prices.

Futures: Today, the most-traded aluminum alloy futures contract opened and plunged, hitting an intraday low of 22,830 yuan/mt, then consolidated to recover, reaching a high of 23,055 yuan/mt and closing the morning session at 22,970 yuan/mt. Volatility increased in the morning session, and after the dip, buying emerged to drive a rebound. However, the rebound was limited and failed to hold the intraday high. Open interest declined alongside, signaling a small outflow of funds. Technically, prices stayed range-bound in the near term, with bulls and bears locked in a tight contest. Upside resistance remained, and a breakout of the range’s upper or lower boundary should be watched going forward.

Spot marketADC12 quotes were largely stable today. On the cost side, aluminum scrap prices remained high, and primary aluminum prices were relatively firm, providing support for ADC12 prices. However, demand was weak. As downstream enterprises gradually entered their hot-weather holidays, orders decreased and market activity declined. Under the dual influence of cost support and weak demand, ADC12 prices are expected to continue moving sideways in the near term. The market is watching the recovery of end-use demand and changes in raw material prices.

Imports: Overseas ADC12 quotes were at $3,050–$3,160/mt. Due to the strengthening of the yuan, the immediate import loss per mt narrowed again to 825 yuan.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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