One Wire & Cable Producer Rejects Aluminum Ingot in Favor of Rod on Environmental Concern, SMM Reports

[SMM Aluminum Alloy Flash] According to SMM statistics, the social inventory of secondary aluminum alloy ingots in major domestic consumption areas continued to destock this week, declining by 3,800 mt from last Thursday to 58,700 mt. It has recorded destocking for two consecutive weeks, and the destocking speed accelerated WoW. On the supply side, tight invoice availability forced some secondary aluminum enterprises to control production, leading to a contraction in overall market supply. In circulation, as the spot-futures spread widened, traders accelerated their shipment pace. Coupled with moderate downstream restocking and support from producer buybacks, spot turnover clearly sped up. In the short term, invoice constraints and spot-futures spread support will continue to power destock

According to SMM statistics, as of June 11, the aluminum billet inventory in major consumption areas in China stood at 154,500 mt, down 5,500 mt from Monday and down 8,000 mt from last Thursday.

[SMM Cast Aluminum Alloy Morning Comment: May Auto Market Domestic Demand Under Pressure, Exports Strong; Narrowing Price Difference Between A00 Aluminum and Scrap Tightens Raw Material Supply] The ADC12 market traded steadily on Wednesday, with the SMM ADC12 price remaining flat at 23,900 yuan/mt. This week, cast aluminum alloy futures diverged from SHFE aluminum, with cast aluminum futures steady to firm while SHFE aluminum fell below the 24,000 yuan/mt mark. In the spot market, A00 aluminum prices declined for consecutive sessions, but ADC12 prices remained firm. The spread between the two has returned to positive territory, ending the inversion since April, underscoring the resilience of alloy prices.