Chinese domestic ADC12 prices remain stable post holiday lull

After the New Year holiday break all over the world, including China who closed markets during January 1-3, the offers for the Chinese domestic spot aluminium alloy ADC12 was seen to be stable, industry sources revealed on Tuesday.

The weekly price assessment by Platts for ADC12 was kept at Yuan 14,600-15,100/mt ex-works Tuesday which remained unchanged through the week as Chinese producers said there is no significant change in demand.

It is possible that the market has not yet picked up speed after the holiday lull as most of them are just returning to work. An east China-based die caster said that the plants should be very busy right now as they will have orders to fulfill before the Lunar New Year.

It is expected that the plants will get back into full action by next week although no one expects any drastic change in price or demand as there is not much time left before the plants close again for the Lunar New Year, which is usually a month before the actual day.

The Lunar New Year for 2015 will be celebrated through February 18-24 when all operations will be closed.

There was however a definite slump noticed in the primary aluminium ingot prices which was Yuan 12,750-12,790 on Tuesday down from last week’s 12.940-12,980/mt. These prices are likely to have an effect on the ADC12 prices as well.

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