Aluminum alloy futures prices weaken on position reduction, spot resilience remains, pre-holiday stockpiling still to be observed [ADC12 Price Daily Commentary]

Published: Sep 24, 2026 13:30 (GMT+8)

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[ADC12 Price Daily Review: Aluminum alloy futures weaken on position reduction, spot resilience persists, pre-holiday stockpiling remains to be seen] Today, ADC12 market quotes continued to hold steady, with enterprises generally showing weak willingness to adjust prices.

Futures: Today, the most-traded AD2611 cast aluminum alloy futures contract opened at 23,740 yuan/mt. After an initial sharp drop to a low of 23,655 yuan/mt, it quickly recovered, then shot up to 23,775 yuan/mt before meeting resistance and pulling back. At 10:00, it dipped to 23,675 yuan/mt and stabilized, then moved sideways around the 23,700 yuan/mt level. It closed at 23,700 yuan/mt before midday, down 35 yuan, or 0.15%, from the previous settlement price of 23,735 yuan/mt. Half-day trading volume was 2,486 lots, and open interest fell from 18,342 lots to 18,164 lots, a decrease of 178 lots. The average price for the entire session was 23,723 yuan/mt, with the close about 23 yuan/mt below the average price line. Prices fell alongside reduced open interest, with bulls mainly exiting and bears holding a slight advantage.

Spot: Today, ADC12 market quotes continued to hold steady, with enterprises generally showing little willingness to adjust prices. On one hand, aluminum scrap raw material prices saw limited overall fluctuations, but against the backdrop of stricter invoice policies and higher compliance procurement requirements, some enterprises' raw material procurement costs remained at relatively high levels, providing some support to prices from the cost side. On the other hand, downstream stocking demand before the Mid-Autumn Festival was released to a limited extent, providing insufficient upward momentum for prices from the demand side. Overall, industry prices showed strong resilience supported by costs, maintaining a consolidation pattern on a strong note in the short term. Going forward, close attention should be paid to the progress of invoice policy implementation, changes in aluminum scrap raw material supply, futures trends, and downstream stockpiling before the upcoming holidays.

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