Chinese secondary aluminum alloy ingot prices rise
2024-04-23 19:02:28 [Print]
BEIJING (Asian Metal) 23 Apr 24 - This Monday, driven by the sharp increase in primary aluminum price, mainstream prices for Chinese aluminum alloy ingot ADC12 rose by RMB100/t (USD13.80/t) to RMB19,900-20,100/t (USD2,747-2,775/t) delivered D/P. Insiders said that despite the weak demand for secondary aluminum alloy ingot, prices for Chinese aluminum alloy ingot ADC12 would keep firm in the week to come supported by the rising primary aluminum price.
A producer in Guangdong disclosed that the price of primary aluminum increased significantly by RMB320/t (USD44.17/t) to RMB20,560-20,660/t (USD2,838-2,852/t) this Monday, stimulated by this they would not sell Chinese aluminum alloy ingot ADC12 at prices lower than RMB20,200/t (USD2,789/t) delivered T/T 30 days, while last Friday, they could accept RMB20,100/t (USD2,775/t) delivered T/T 30 days. "I sold 190t at RMB20,300/t (USD2,802/t) delivered T/T 30 days on Monday and 30t at RMB20,200/t (USD2,789/t) delivered T/T 30 days last Friday," the source said, predicting that prices for Chinese aluminum alloy ingot ADC12 would keep firm in the following week supported by the high price of primary aluminum at present.
With an annual production capacity of 150,000t, the producer produced about 112,000t in 2023 and about 32,500t in the first quarter of this year. They produced about 13,000t in March and expect to produce the same volume in April, holding about 2,800t of stocks now.
Another producer in Guangdong indicated that they marked up their price of aluminum alloy ingot ADC12 on Monday driven by the sharp increase in primary aluminum price. They would not sell the material at prices lower than RMB20,100/t (USD2,775/t) delivered D/P on Monday while could accept a price as low as RMB19,800/t (USD2,733/t) delivered D/P last Friday. "We didn't close new deals this Monday while sold 32t at RMB19,800/t (USD2,733/t) delivered D/P last Friday," the source said, adding that their production cost increased as the increased primary aluminum price pushed up the price of aluminum scrap. Therefore, they forecast that prices for Chinese aluminum alloy ingot ADC12 would keep firm in the coming week.
With an annual production capacity of 250,000t, the producer produced about 147,000t in 2023 and about 21,000t in the first quarter of this year. Holding about 1,000t of stocks now, the producer expects to produce about 12,000t in April, up from about 9,000t in March.
A producer in Guangdong disclosed that the price of primary aluminum increased significantly by RMB320/t (USD44.17/t) to RMB20,560-20,660/t (USD2,838-2,852/t) this Monday, stimulated by this they would not sell Chinese aluminum alloy ingot ADC12 at prices lower than RMB20,200/t (USD2,789/t) delivered T/T 30 days, while last Friday, they could accept RMB20,100/t (USD2,775/t) delivered T/T 30 days. "I sold 190t at RMB20,300/t (USD2,802/t) delivered T/T 30 days on Monday and 30t at RMB20,200/t (USD2,789/t) delivered T/T 30 days last Friday," the source said, predicting that prices for Chinese aluminum alloy ingot ADC12 would keep firm in the following week supported by the high price of primary aluminum at present.
With an annual production capacity of 150,000t, the producer produced about 112,000t in 2023 and about 32,500t in the first quarter of this year. They produced about 13,000t in March and expect to produce the same volume in April, holding about 2,800t of stocks now.
Another producer in Guangdong indicated that they marked up their price of aluminum alloy ingot ADC12 on Monday driven by the sharp increase in primary aluminum price. They would not sell the material at prices lower than RMB20,100/t (USD2,775/t) delivered D/P on Monday while could accept a price as low as RMB19,800/t (USD2,733/t) delivered D/P last Friday. "We didn't close new deals this Monday while sold 32t at RMB19,800/t (USD2,733/t) delivered D/P last Friday," the source said, adding that their production cost increased as the increased primary aluminum price pushed up the price of aluminum scrap. Therefore, they forecast that prices for Chinese aluminum alloy ingot ADC12 would keep firm in the coming week.
With an annual production capacity of 250,000t, the producer produced about 147,000t in 2023 and about 21,000t in the first quarter of this year. Holding about 1,000t of stocks now, the producer expects to produce about 12,000t in April, up from about 9,000t in March.
