Chinese secondary aluminum alloy ingot consumers place few orders
2023-03-14 11:42:21 [Print]
BEIJING (Asian Metal) 14 Mar 23 - Depressed by the sluggish sales in the automobile industry, the orders of secondary aluminum alloy ingot stayed scarce. On Monday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB18,600-18,800/t (USD2,708-2,737/t) delivered D/P, down by RMB100/t (USD14.56/t) from last Friday. Insiders said that secondary aluminum alloy ingot producers bear heavy sales pressure now, so prices for Chinese aluminum alloy ingot ADC12 would keep flat in the coming week.
A producer in South China revealed that orders placed by their downstream customers stayed rare in the past week and only accounted for 70%-80% of the normal level. "On Monday, we could accept RMB18,800/t (USD2,737/t) delivered D/P for aluminum alloy ingot ADC12, while last Friday, we would not sell the material at prices lower than RMB18,900/t (USD2,751/t) delivered D/P. We sold 32t at RMB18,800/t (USD2,737/t) delivered D/P today and 20t at RMB19,000/t (USD2,766/t) delivered D/P last Friday," the source said, adding that deals of secondary aluminum alloy ingot fail to increase significantly for the time being, so prices for Chinese aluminum alloy ingot ADC12 would keep flat in the following week.
With an annual production capacity of 60,000t, the producer produced about 25,000t in 2022 and expects to produce about 2,800t in March, the same as February. They hold about 600t of stocks now.
A producer in Central China reported that their downstream customers had less interest in purchasing in early March, and they failed to receive any new orders for nearly a week, while they could receive new orders almost every day in February. "On Monday, we offered RMB18,700/t (USD2,722/t) delivered D/P for aluminum alloy ingot ADC12 and could accept a concession of RMB100/t (USD14.56/t) for regular customers, the same as last Friday. We didn't close deals today while last sold 64t at RMB18,600/t (USD2,708/t) delivered D/P last Tuesday," the source said, adding that they bear heavy sales pressure now and the demand of downstream customers does not improve significantly, so prices for Chinese aluminum alloy ingot ADC12 would keep unchanged in the week to come.
With an annual production capacity of 80,000t, the producer produced about 23,400t in 2022 and expects to produce about 2,600t in March, up from about 2,000t in February. They hold about 200t of stocks now.
A producer in South China revealed that orders placed by their downstream customers stayed rare in the past week and only accounted for 70%-80% of the normal level. "On Monday, we could accept RMB18,800/t (USD2,737/t) delivered D/P for aluminum alloy ingot ADC12, while last Friday, we would not sell the material at prices lower than RMB18,900/t (USD2,751/t) delivered D/P. We sold 32t at RMB18,800/t (USD2,737/t) delivered D/P today and 20t at RMB19,000/t (USD2,766/t) delivered D/P last Friday," the source said, adding that deals of secondary aluminum alloy ingot fail to increase significantly for the time being, so prices for Chinese aluminum alloy ingot ADC12 would keep flat in the following week.
With an annual production capacity of 60,000t, the producer produced about 25,000t in 2022 and expects to produce about 2,800t in March, the same as February. They hold about 600t of stocks now.
A producer in Central China reported that their downstream customers had less interest in purchasing in early March, and they failed to receive any new orders for nearly a week, while they could receive new orders almost every day in February. "On Monday, we offered RMB18,700/t (USD2,722/t) delivered D/P for aluminum alloy ingot ADC12 and could accept a concession of RMB100/t (USD14.56/t) for regular customers, the same as last Friday. We didn't close deals today while last sold 64t at RMB18,600/t (USD2,708/t) delivered D/P last Tuesday," the source said, adding that they bear heavy sales pressure now and the demand of downstream customers does not improve significantly, so prices for Chinese aluminum alloy ingot ADC12 would keep unchanged in the week to come.
With an annual production capacity of 80,000t, the producer produced about 23,400t in 2022 and expects to produce about 2,600t in March, up from about 2,000t in February. They hold about 200t of stocks now.
