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【Aluminum Prices Fluctuate Rangebound, Secondary Aluminum Prices Remain Stable】Today, aluminum prices continued a slight upward trend, with SMM A00 aluminum prices rising by 20 yuan/mt from the previous trading day to 20,550 yuan/mt, while secondary aluminum prices remained stable. Domestically, SMM ADC12 prices were flat at 21,100-21,300 yuan/mt. In the import market, overseas ADC12 prices held steady at $2,480-2,500/mt, and ADC12 import real-time losses slightly expanded to the range of 200-300 yuan/mt, keeping the import window closed. Today, aluminum prices saw a slight increase, with secondary aluminum manufacturers mainly maintaining stable quotations, though a few adjusted downward by 50-100 yuan/mt against the trend. Currently, secondary aluminum plant operating rates have returned to normal, market supply has increased, while downstream demand remains weak, leading to reduced enterprise orders and accumulated social and production site inventory, resulting in limited momentum for price increases. In the short term, ADC12 prices are expected to continue fluctuating 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 recent raw material circulation and the recovery of end-use consumption.
Note: Import profits refer to real-time profit
