01 AUGUST 2013Platts
ADC12 trades in China steady, but showing signs of slowing dow
Edited by : AL CIRCLE
2 min read
Trading for China's domestic spot aluminum alloy ADC12 generally held fairly steady though there were signs of a slowdown on the back of the seasonal summer lull, industry sources said Tuesday.
Despite of the weaker aluminum ingot prices, spot domestic offers for the aluminum alloy ADC12 stayed steady.
Leading Chinese producer Sigma Metals kept its offers at Yuan 16,900/mt ($2,754/mt) ex-works Tuesday, unchanged from last week, while most non-Sigma offers remained at Yuan 15,600-16,000/mt, unchanged from the previous week.
Platts assessed its weekly China domestic ADC12 price at Yuan 15,500-16,000/mt ex-works Tuesday, unchanged from last Tuesday.
A south China-based producer agreed, hearing offers generally steady at Yuan 15,600-16,000/mt, while an east China-based diecaster bought at Yuan 15,850/mt.
Sources said some plants would be shutting down their plants or slowing down their production activities due to the summer heat.
The eastern Chinese diecaster said: "We usually take our summer break in early August. However, we have just received an order and we will delay the break."
China's spot aluminum ingot price was heard around Yuan 14,260/mt Tuesday, down from Yuan 14,400/mt last week.
On Tuesday, the August aluminum futures contract was Yuan 14,250/mt on the Shanghai Futures Exchange, compared with Yuan 14,365/mt last week.
On Monday, the LME official cash price for aluminum was $1,759.50-1,760/mt, compared with $1,794-1,794.50/mt the previous Monday.
An east China-based producer said: "Yes, we are seeing more buying inquiries from Japan this week due to the stronger yen. Some of them are closed for one week in August for summer holidays and are buying now."
This eastern Chinese was indicating at $2,150-2,160/mt but managed to sell at $2,150/mt this week.
"Although LME prices have dropped, the imported aluminum scrap price has stayed fairly steady due to tight supply, thereby keeping ADC12 prices steady," the eastern Chinese producer added.
Imported zorba grade of aluminum scrap generally remained steady at $1,700-1,750/mt CIF China.
China's import of aluminum scraps fell to 180,000 mt in June, down 14.3% year on year and down 10% month on month, the latest trade figures released by the General Administration of Customs showed.
For the first half of the year, imports stood at 1.13 million mt, down 7.9% year on year.
Despite of the weaker aluminum ingot prices, spot domestic offers for the aluminum alloy ADC12 stayed steady.
Leading Chinese producer Sigma Metals kept its offers at Yuan 16,900/mt ($2,754/mt) ex-works Tuesday, unchanged from last week, while most non-Sigma offers remained at Yuan 15,600-16,000/mt, unchanged from the previous week.
Platts assessed its weekly China domestic ADC12 price at Yuan 15,500-16,000/mt ex-works Tuesday, unchanged from last Tuesday.
A south China-based producer agreed, hearing offers generally steady at Yuan 15,600-16,000/mt, while an east China-based diecaster bought at Yuan 15,850/mt.
Sources said some plants would be shutting down their plants or slowing down their production activities due to the summer heat.
The eastern Chinese diecaster said: "We usually take our summer break in early August. However, we have just received an order and we will delay the break."
China's spot aluminum ingot price was heard around Yuan 14,260/mt Tuesday, down from Yuan 14,400/mt last week.
On Tuesday, the August aluminum futures contract was Yuan 14,250/mt on the Shanghai Futures Exchange, compared with Yuan 14,365/mt last week.
On Monday, the LME official cash price for aluminum was $1,759.50-1,760/mt, compared with $1,794-1,794.50/mt the previous Monday.
An east China-based producer said: "Yes, we are seeing more buying inquiries from Japan this week due to the stronger yen. Some of them are closed for one week in August for summer holidays and are buying now."
This eastern Chinese was indicating at $2,150-2,160/mt but managed to sell at $2,150/mt this week.
"Although LME prices have dropped, the imported aluminum scrap price has stayed fairly steady due to tight supply, thereby keeping ADC12 prices steady," the eastern Chinese producer added.
Imported zorba grade of aluminum scrap generally remained steady at $1,700-1,750/mt CIF China.
China's import of aluminum scraps fell to 180,000 mt in June, down 14.3% year on year and down 10% month on month, the latest trade figures released by the General Administration of Customs showed.
For the first half of the year, imports stood at 1.13 million mt, down 7.9% year on year.
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