Chinese secondary aluminum alloy ingot consumers cautious about purchasing
2023-03-22 11:53:59 [Print]
BEIJING (Asian Metal) 22 Mar 23 - The secondary aluminum alloy ingot market continued to see weak demand during the past week when consumers purchased cautiously. Mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB18,400-18,600/t (USD26,727-27,017/t) delivered D/P on Tuesday, down by RMB100/t (USD14.52/t) from Monday. Insiders explained that there was no notable increase in orders from downstream consumers and believed that prices for Chinese aluminum alloy ingot ADC12 would move down in the coming week.
A producer in Southwest China claimed that their downstream clients were inactive in purchasing over the past week and their client who bought 200t each time just purchased 100t per deal recently. "We quoted aluminum alloy ingot ADC12 at RMB18,800/t (USD2,731/t) delivered D/P on Tuesday with a concession of RMB100/t (USD14.53/t) for regular clients, while we refused to sell at prices below RMB18,800/t (USD2,731/t) last Friday. We didn't close any deals today and last sold 100t at RMB18,800/t (USD2,731/t) last Wednesday", said the producer, adding that the demand for secondary aluminum alloy ingot remains slack now and prices for Chinese aluminum alloy ingot ADC12 might move down in the coming week.
With an annual production capacity of 200,000t, they produced about 41,000t in total last year, and expect to produce about 3,000t this month, down from about 3,800t in February. They now hold inventory of around 500t.
A producer in Northwest China said that the demand remains relatively soft from downstream clients who cut purchase volume but purchased more frequently. "We could accept the price as low as RMB18,600/t (USD2,702/t) delivered D/P for aluminum alloy ingot ADC12 on Tuesday but we refused to sell at prices lower than RMB18,700/t (USD2,716/t) delivered D/P", said the source, who believed that prices for Chinese aluminum alloy ingot ADC12 would slide in the coming week with no obvious improvement in demand.
With an annual production capacity of 60,000t, they produced about 27,200t in total last year, and expect to produce about 2,500t in March, compared with about 1,500t last month. They hold inventory of around 234t at the moment.
A producer in Southwest China claimed that their downstream clients were inactive in purchasing over the past week and their client who bought 200t each time just purchased 100t per deal recently. "We quoted aluminum alloy ingot ADC12 at RMB18,800/t (USD2,731/t) delivered D/P on Tuesday with a concession of RMB100/t (USD14.53/t) for regular clients, while we refused to sell at prices below RMB18,800/t (USD2,731/t) last Friday. We didn't close any deals today and last sold 100t at RMB18,800/t (USD2,731/t) last Wednesday", said the producer, adding that the demand for secondary aluminum alloy ingot remains slack now and prices for Chinese aluminum alloy ingot ADC12 might move down in the coming week.
With an annual production capacity of 200,000t, they produced about 41,000t in total last year, and expect to produce about 3,000t this month, down from about 3,800t in February. They now hold inventory of around 500t.
A producer in Northwest China said that the demand remains relatively soft from downstream clients who cut purchase volume but purchased more frequently. "We could accept the price as low as RMB18,600/t (USD2,702/t) delivered D/P for aluminum alloy ingot ADC12 on Tuesday but we refused to sell at prices lower than RMB18,700/t (USD2,716/t) delivered D/P", said the source, who believed that prices for Chinese aluminum alloy ingot ADC12 would slide in the coming week with no obvious improvement in demand.
With an annual production capacity of 60,000t, they produced about 27,200t in total last year, and expect to produce about 2,500t in March, compared with about 1,500t last month. They hold inventory of around 234t at the moment.
