Overseas ADC12 Offers Stable, Spot Import Loss Narrows as Yuan Strengthens

[SMM Aluminum Brief] The ADC12 market remained largely stable today, with most market participants adopting a wait-and-see approach. With both cost and demand-side drivers remaining relatively weak, producers showed limited willingness to adjust prices, and overall market sentiment remained stable. In the short term, ADC12 prices are expected to remain stable with a slightly firm tone. Market attention will continue to focus on changes in aluminum and scrap aluminum costs, as well as whether downstream demand can see a stronger release during the traditional peak season in September.

[ADC12 Price Daily Commentary: Aluminum Alloy Futures Move Sideways, Import Losses Continue to Narrow] The most-traded cast aluminum alloy 2611 futures contract bottomed out before midday today. It opened at 23,615 yuan in the morning session, quickly hit a low of 23,580 yuan after the open, then consolidated higher throughout the session, reaching an intraday high of 23,705 yuan in the final stretch before closing the morning at 23,680 yuan, up 15 yuan or 0.06% from yesterday's settlement price of 23,665 yuan.

[Macro disturbances cap upside room, while destocking continues to support aluminum price stabilization] Overall, aluminum prices are expected to consolidate in the short term.