China's consumption of secondary aluminum alloy ingot resumes to normal level
2024-03-19 11:32:32 [Print]
BEIJING (Asian Metal) 19 Mar 24 - This week, the demand of downstream secondary aluminum alloy ingot customers basically resumed to a normal state and the market witnessed brisk deals. On Monday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB19,500-19,700/t (USD2,709-2,737/t) delivered D/P, unchanged from last Friday. Insiders reckoned that prices for Chinese aluminum alloy ingot ADC12 would keep firm in the coming week in view of the current short supply of raw material cast aluminum scrap.
A producer in Central China revealed that they sold about 1,700t of secondary aluminum alloy ingot in the past week, and the volume resumed to a normal level. "On Monday, we offered RMB19,600/t (USD2,723/t) delivered D/P for aluminum alloy ingot ADC12 and refused any counteroffers, the same as last Friday. At this price, we sold 60t on Monday and 90t last Saturday," the source said. They have difficulty in sourcing aluminum scrap, so they have no plan to close deals at lower prices for the time being, and prices for Chinese aluminum alloy ingot ADC12 would keep firm in the following week.
With an annual production capacity of 100,000t, the producer produced about 45,000t in 2023 and holds about 400t of stocks now. They expect to produce about 7,000t in March, up from about 3,500t in February.
A producer in East China indicated that orders from their downstream customers already resumed to a normal level in the middle of March, and their weekly sales volume reaches about 700t now, basically the same as last January. "On Monday, we would not sell aluminum alloy ingot ADC12 at prices lower than RMB19,700/t (USD2,737/t) delivered D/P, in line with last Friday. At this price, we sold 30t today and 20t last Saturday," the source said, predicting that prices for Chinese aluminum alloy ingot ADC12 would keep firm in the week to come in light of the recovering demand and short supply of raw material aluminum scrap.
With an annual production capacity of 84,000t, the company produced about 29,500t in 2023. They produced about 1,000t n February and expect to produce about 3,000t in March, holding about 700t of stocks now.
A producer in Central China revealed that they sold about 1,700t of secondary aluminum alloy ingot in the past week, and the volume resumed to a normal level. "On Monday, we offered RMB19,600/t (USD2,723/t) delivered D/P for aluminum alloy ingot ADC12 and refused any counteroffers, the same as last Friday. At this price, we sold 60t on Monday and 90t last Saturday," the source said. They have difficulty in sourcing aluminum scrap, so they have no plan to close deals at lower prices for the time being, and prices for Chinese aluminum alloy ingot ADC12 would keep firm in the following week.
With an annual production capacity of 100,000t, the producer produced about 45,000t in 2023 and holds about 400t of stocks now. They expect to produce about 7,000t in March, up from about 3,500t in February.
A producer in East China indicated that orders from their downstream customers already resumed to a normal level in the middle of March, and their weekly sales volume reaches about 700t now, basically the same as last January. "On Monday, we would not sell aluminum alloy ingot ADC12 at prices lower than RMB19,700/t (USD2,737/t) delivered D/P, in line with last Friday. At this price, we sold 30t today and 20t last Saturday," the source said, predicting that prices for Chinese aluminum alloy ingot ADC12 would keep firm in the week to come in light of the recovering demand and short supply of raw material aluminum scrap.
With an annual production capacity of 84,000t, the company produced about 29,500t in 2023. They produced about 1,000t n February and expect to produce about 3,000t in March, holding about 700t of stocks now.
