[SMM Aluminum Alloy Daily Review] Driven by the rebound in futures, the secondary aluminum alloy market saw quoted prices edge up today, with mainstream increases of 100 yuan/mt. Some enterprises raised prices accordingly to recover earlier losses, and market sentiment improved slightly from the previous period. However, transactions remained weak, with downstream buyers mainly purchasing as needed and showing limited acceptance of high prices, constraining upside room for prices. In the short term, ADC12 prices were expected to fluctuate rangebound, and further gains would still require substantive improvement on the demand side.

[SMM Aluminum Alloy Daily Review] Futures: Today, aluminum alloy 2604 fluctuated upward after opening, hitting an intraday high of 23,160 yuan/mt before noon. Momentum from the bulls then faded, and prices pulled back step by step. In the afternoon, losses widened, with the low dipping to 22,180 yuan/mt. The decline narrowed slightly late in the session, and it finally closed at 22,810 yuan/mt, down 485 yuan/mt from the previous trading day, a drop of 2.08%. Spot: Market quotes generally moved lower today, with the SMM ADC12 price down 300 yuan/mt. Driven by the price pullback and weekend restocking demand, market trading sentiment recovered somewhat from the previous period, and downstream purchase willingness to buy the dip increased, supporting improved transactions at some enterprises.

[SMM Secondary Aluminum Alloy Daily Review] Secondary aluminum alloy market quotations were generally lowered by 100 yuan/mt today. Affected by the pullback in futures, most enterprises lowered their quotations accordingly. However, as aluminum scrap raw material prices remained at a relatively high level, the cost side provided some support for ADC12 prices, and enterprises were generally restrained in the extent of their price adjustments. Demand side, downstream procurement still mainly met immediate needs, and no concentrated restocking driven by the price pullback had yet emerged. Wait-and-see sentiment in the market increased somewhat, and overall trading remained relatively stable.

[SMM Morning Comment on Cast Aluminum Alloy: Alloy Prices Continued to Hover at Highs, While Market Demand Was Significantly Suppressed] This week, secondary aluminum alloy prices continued to rise, but the pace of demand follow-up was relatively slow. In the short term, raw material costs remained at high levels, providing strong support for ADC12 prices; however, if prices continue to rise, the suppressive effect of high prices on demand will become increasingly evident. Meanwhile, as operating rates gradually recover, there are also expectations of a mild increase on the supply side. ADC12 prices are expected to fluctuate at highs in the short term. Going forward, it is recommended to focus on the pace of downstream order release, the pressure on the market from the supply recovery process, and the impact of the Middle East situation on aluminum prices.

[[Weekly Review of Aluminum Scrap and Secondary Aluminum]]Aluminum Prices Strengthened This Week, Rising Costs Drove Up ADC12 Prices

[SMM Aluminum Alloy Daily Report] Futures side, on the first trading day after the holiday, Aluminum Alloy 2604 opened at the day's low of 22,070 yuan/mt. Early session saw strong capital sentiment, pushing the price up to a high of 22,460 yuan/mt. Subsequently, the futures pulled back amid fluctuations, closing at 22,320 yuan/mt, up 1.27% from the last trading day before the holiday. Throughout the day, bears mainly reduced positions, with the overall market still in a consolidation phase following the previous decline. Spot side, today's SMM ADC12 price was raised by 100 yuan/mt to 23,750 yuan/mt. The strong performance of the futures on the first day after the holiday boosted market sentiment, but secondary aluminum enterprises showed some divergence in their quotations. Some enterprise