2020-11-05
Today, the price of aluminum remained stable and rose slightly by 10 yuan/ton. Scrap aluminum prices remained stable overall. However, the current arrivals of imported aluminum alloy ingots continue to increase, and many traders have undigested inventory, and the arrival volume in June is still large. The current domestic imported aluminum alloy ingot ADC12 quotation has fallen below 12,500 yuan/ton. Under the impact of a large number of imported aluminum alloy ingots, domestic secondary aluminum companies generally want to reduce costs to counter import sources. Under the influence of this, domestic raw aluminum prices have weakened recently and may continue to fall in the later period.
The quotations of recycling plants remained stable overall. In terms of domestic prices, the quotations of mainstream large-scale secondary aluminum companies have remained stable, concentrated at 13,200~13,300 yuan/ton. The cash price quoted by imported scrap aluminum companies remains around 13,000 yuan/ton. Due to market feedback, the stock of imported scrap is gradually decreasing, and the ultra-low prices of domestic products have disappeared. The low prices are basically derived from imported aluminum alloy ingots. In terms of small and medium-sized factories, the quotation of a secondary aluminum factory in Jiangxi remained stable, and the quotations of small and medium-sized factories and traders showed a slight weakening trend, and the quotations fell to RMB 12,800-13,000/ton. In terms of import and export, due to the current lack of overseas demand, a small amount of transactions were exported to Japan ADC12CIF at a price near US$1,450/ton. The offer of imported ADC12 is still active. The current offer of Ningbo ADC12CIF (agreeing non-tariff country) is maintained at US$1500~1580/ton, and the mainstream price is concentrated at US$1510~1520/ton. Low-price offers have been made for the forward arrival price. The transaction price of ADC12 on arrival in Hong Kong remains at RMB 12,200~12,500/ton. It is difficult to see transactions above RMB 12,500/ton. Considering the recent exchange rate fluctuations, the profit of some high-cost imports has been negligible.
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