SMM

SHANGHAI, May 4 (SMM) – The prices of ADC12 secondary aluminium alloy slipped 400 yuan/mt from a week ago to 19,000 yuan/mt as of last Friday. In terms of costs, aluminium scrap prices dropped, while silicon metal prices stopped falling. On the demand side, automobile market remained sluggish, and die-casting plants will take 1-3 days of break for the Labour Day holiday. Trades were muted before the holiday. On the supply side, some secondary aluminium alloy plants cut output last week due to poor demand. Some secondary aluminium alloy plants will remain in operations during the holiday, while others plan for shut down for three days. In terms of imports, quotations from Malaysia and South Korea were $2,350-2,380/mt. The import losses expanded to around 800 yuan/mt. Lower costs and weak demand may still weigh on ADC12 prices after the holiday.