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SMM June 11 report:
On the futures market, today the most-traded cast aluminum alloy futures contract 2511 opened at 19,200 yuan/mt, oscillated higher during the day, reaching a high of 19,525 yuan/mt, and closed at 19,400 yuan/mt, up 210 yuan/mt from the previous close, a gain of 1.09%. Trading volume was 27,911 lots, and open interest was 10,419 lots (+696 lots).
In the spot market, today's SMM A00 aluminum price rose 240 yuan/mt from the previous trading day to 20,400 yuan/mt. Domestic SMM ADC12 prices held steady in the range of 19,800-20,000 yuan/mt. Today, the ADC12 market generally held steady quotes or rose by 100 yuan/mt. Currently in the off-season, weak demand continues to suppress its upside room in prices, while the cost side provides some support. In the short term, ADC12 spot prices will remain rangebound, and the discount status to A00 may continue.
In the import market, the CIF quote for imported ADC12 continued to rise slightly to $2,400-2,420/mt. The import spot price was quoted around 19,100 yuan/mt, and the import real-time loss widened again to 600 yuan/mt. The local ADC12 price in Thailand, excluding tax, was quoted at 81-81.5 Thai baht/kg.
Note: Import profit refers to real-time profit.
