30 OCTOBER 2013Platts
China's aluminum alloy ADC12 remains steady
Edited by : AL CIRCLE
2 min read
Offers for China's domestic spot aluminum alloy ADC12 remained generally steady Tuesday, while the physical demand stayed healthy after the pickup seen the previous week, industry sources said.
Domestic offers were heard around Yuan 16,000/mt ($2,619/mt) ex-works, unchanged from last week.
Platts kept its weekly China domestic ADC12 prices steady at Yuan 15,800-16,100/mt ex-works Tuesday, unchanged from the previous Tuesday.
"The domestic demand is still doing fine due to the end-users' rush to stock up for year-end requirements. I expect demand to pick up even more in November," said an east China-based producer, who indicated offers at Yuan 15,800-16,000/mt, unchanged from last week.
"Supply from the Zhejiang province has dropped. This, however, has helped to lift demand from other provinces," he added.
Typhoon Fitow has affected 4.56 million people in east China's Zhejiang and Fujian provinces, the State Flood Control and Drought Relief Headquarters said on October 7, the official Xinhua news agency reported on October 8.
China's spot aluminum ingot price was heard around Yuan 14,520/mt, up from Yuan 14,470/mt Monday.
The November aluminum futures contract was Yuan 14,505/mt on the Shanghai Futures Exchange, up from Yuan 14,470/mt Monday.
Meanwhile, Japan's spot import trade of ADC12 aluminum alloy continued to be lackluster as the yen remained weak against the dollar, market sources said.
Platts held the export Chinese ADC12 assessment at $2,120-2,130/mt FOB China Tuesday, unchanged from the previous week.
An east China-based producer, who heard market indications at $2,140-2,150/mt CFR Japan , said: "Japanese buyers are keeping a close watch over the dollar/yen exchange rate. The yen has been very weak recently."
Another east China-based producer, who was offering at $2,150-2,160/mt CFR Japan, said he had no inquiries from Japan for the week.
Chinese sources said imported zorba-grade of aluminum scrap had remained steady around $1,700/mt CIF amid limited supply, thereby limiting the possibility of lowering Chinese ADC12 export offers.
On Monday the LME official cash price for aluminum was $1,838.50-1,839/mt, up from $1,807-1,807.50/mt last Monday.
Domestic offers were heard around Yuan 16,000/mt ($2,619/mt) ex-works, unchanged from last week.
Platts kept its weekly China domestic ADC12 prices steady at Yuan 15,800-16,100/mt ex-works Tuesday, unchanged from the previous Tuesday.
"The domestic demand is still doing fine due to the end-users' rush to stock up for year-end requirements. I expect demand to pick up even more in November," said an east China-based producer, who indicated offers at Yuan 15,800-16,000/mt, unchanged from last week.
"Supply from the Zhejiang province has dropped. This, however, has helped to lift demand from other provinces," he added.
Typhoon Fitow has affected 4.56 million people in east China's Zhejiang and Fujian provinces, the State Flood Control and Drought Relief Headquarters said on October 7, the official Xinhua news agency reported on October 8.
China's spot aluminum ingot price was heard around Yuan 14,520/mt, up from Yuan 14,470/mt Monday.
The November aluminum futures contract was Yuan 14,505/mt on the Shanghai Futures Exchange, up from Yuan 14,470/mt Monday.
Meanwhile, Japan's spot import trade of ADC12 aluminum alloy continued to be lackluster as the yen remained weak against the dollar, market sources said.
Platts held the export Chinese ADC12 assessment at $2,120-2,130/mt FOB China Tuesday, unchanged from the previous week.
An east China-based producer, who heard market indications at $2,140-2,150/mt CFR Japan , said: "Japanese buyers are keeping a close watch over the dollar/yen exchange rate. The yen has been very weak recently."
Another east China-based producer, who was offering at $2,150-2,160/mt CFR Japan, said he had no inquiries from Japan for the week.
Chinese sources said imported zorba-grade of aluminum scrap had remained steady around $1,700/mt CIF amid limited supply, thereby limiting the possibility of lowering Chinese ADC12 export offers.
On Monday the LME official cash price for aluminum was $1,838.50-1,839/mt, up from $1,807-1,807.50/mt last Monday.
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