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【Aluminum Prices Decline Again, Supply Pressure Increases, Secondary Aluminum Prices Drop Across the Board】Today, aluminum prices extended yesterday's downward trend, with SMM A00 aluminum prices falling by another 200 yuan/mt from the previous trading day to 20,390 yuan/mt, and secondary aluminum prices generally declining. Domestically, SMM ADC12 prices continued to drop by 100 yuan/mt to 21,100-21,300 yuan/mt. In the import market, overseas ADC12 prices remained stable at $2,480-2,500/mt. With domestic prices declining further, ADC12 import real-time profit turned into a slight loss, and the import window closed. Today, aluminum prices continued to weaken, and the secondary aluminum market generally followed with a 100 yuan/mt decline. Currently, manufacturers' operating rates have returned to normal, while downstream demand remains weak, with overall transactions being moderate. In the short term, ADC12 prices are expected to fluctuate rangebound, with upside room constrained by supply growth pressure and the slow pace of demand recovery, while downside is supported by aluminum scrap costs. Attention should be focused on the recent circulation of raw materials and the recovery of end-use consumption.
Note: Import profit refers to real-time profit
