Domestic spot aluminum alloy ADC12 offers rebound in China

The higher primary ingot prices pushed up the offers for Chinese domestic spot aluminium allot ADC12 on Tuesday, even though there was no significant rise in buying interest in the summer lull, according to industry sources.

According to recent Platts price assessment, the weekly China domestic ADC12 rate has risen from Yuan 15,000-15,500/mt of last week to 15,100-15,600/mt ($2,453-2,534/mt) ex-works Tuesday.

The spot price for domestic aluminium ingot in China was Yuan 14,020/mt last Tuesday and has now risen to Yuan 14,200/mt the same day this week. Even the September future prices have seen a revision on the Shanghai Futures Exchange, from Yuan 14,110/mt last week to Yuan 14,310/mt this week.

"Despite the weak demand in summer, our offers have gone up to Yuan 15,600/mt, up about Yuan 100/mt from last week. This is mainly due to higher domestic primary ingot prices affected by stronger LME prices," an east China-based producer said.

Platts raised the export price assessment for ADC12 from $2,180-2,190/mt FOB China as on last week, to $2,200-2,210/mt FOB China on Tuesday, as a result of the higher bids and offers heard due to the higher aluminium ingot and imported scrap prices.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.