SMM

SHANGHAI, May 19 (SMM) – A00 aluminium prices rebounded significantly this week, and gained 710 yuan/mt to 18,600 yuan/mt as of May 18. The prices of ADC12 secondary aluminium alloy also went up, gaining 200 yuan/mt from a week ago to 18,700 yuan/mt. In terms of cost, aluminium scrap traders rushed to sell after aluminium prices rallied. Sluggish end-user demand suppressed orders for secondary aluminium alloy, limiting its price gains. Major secondary aluminium alloy factories maintained stable production, while some smaller ones cut production due to insufficient orders or losses. The short-term operating rates will maintain a downward trend. Imported ADC12 was offered at above $2,300/mt. Importers still suffered losses. Short-term ADC12 prices will move within a narrow range.