Chinese secondary aluminum alloy ingot market quiet
2023-03-28 12:09:59 [Print]
BEIJING (Asian Metal) 28 Mar 23 - This week, the demand for secondary aluminum alloy ingot keeps declining, leading to an increase in the inventory of producers. On Monday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB18,500-18,700/t (USD2,689-2,718/t) delivered D/P, up by RMB100/t (USD14.54/t) from last Friday. Insiders said that downstream die-casting plants place rare orders and wait and see the market now, so prices for Chinese aluminum alloy ingot ADC12 would keep soft in the coming week.
A producer in South China said that orders from their downstream customers stand rare, and their daily sales volume is about 300t now, compared with about 380t in late February. "On Monday, we offered RMB18,600/t (USD2,704/t) delivered D/P for aluminum alloy ingot ADC12 and could accept a concession of RMB100/t (USD14.54/t) for regular customers, while last Friday, we could accept a price as low as RMB18,500/t (USD2,689/t) delivered T/T 30 days. We didn't close deals today while sold 90t at RMB18,500/t (USD2,689/t) delivered T/T 30 days last Friday," the source said, adding that they bear heavy sales pressure now and reckon that prices for Chinese aluminum alloy ingot ADC12 would keep soft in the coming week.
With an annual production capacity of 150,000t, the producer produced about 113,000t in 2022 and expects to produce about 9,500t in March, lower than about 11,000t in February. They hold about 4,000t of stocks now.
A producer in East China revealed that the demand of their downstream customers remained weak in the past week. As a result, their inventory keeps increasing from about 300t in early March to current about 600t. "On Monday, we offered RMB18,700/t (USD2,718/t) delivered D/P for aluminum alloy ingot ADC12 and could accept a concession of RMB100/t (USD14.54/t) for regular customers, while last Friday, we could accept a price as low as RMB18,500/t (USD2,689/t) delivered D/P. At RMB18,600/t (USD2,704/t) delivered D/P, we sold 150t today and 32t last Friday," the source said, adding that the demand for secondary aluminum alloy ingot keeps weak at present, and prices for Chinese aluminum alloy ingot ADC12 might keep soft in the following week.
With an annual production capacity of 36,000t, the producer produced about 10,500t in 2022 and expects to produce about 1,350t in March, compared with about 1,400t in February. They hold about 600t of stocks now.
A producer in South China said that orders from their downstream customers stand rare, and their daily sales volume is about 300t now, compared with about 380t in late February. "On Monday, we offered RMB18,600/t (USD2,704/t) delivered D/P for aluminum alloy ingot ADC12 and could accept a concession of RMB100/t (USD14.54/t) for regular customers, while last Friday, we could accept a price as low as RMB18,500/t (USD2,689/t) delivered T/T 30 days. We didn't close deals today while sold 90t at RMB18,500/t (USD2,689/t) delivered T/T 30 days last Friday," the source said, adding that they bear heavy sales pressure now and reckon that prices for Chinese aluminum alloy ingot ADC12 would keep soft in the coming week.
With an annual production capacity of 150,000t, the producer produced about 113,000t in 2022 and expects to produce about 9,500t in March, lower than about 11,000t in February. They hold about 4,000t of stocks now.
A producer in East China revealed that the demand of their downstream customers remained weak in the past week. As a result, their inventory keeps increasing from about 300t in early March to current about 600t. "On Monday, we offered RMB18,700/t (USD2,718/t) delivered D/P for aluminum alloy ingot ADC12 and could accept a concession of RMB100/t (USD14.54/t) for regular customers, while last Friday, we could accept a price as low as RMB18,500/t (USD2,689/t) delivered D/P. At RMB18,600/t (USD2,704/t) delivered D/P, we sold 150t today and 32t last Friday," the source said, adding that the demand for secondary aluminum alloy ingot keeps weak at present, and prices for Chinese aluminum alloy ingot ADC12 might keep soft in the following week.
With an annual production capacity of 36,000t, the producer produced about 10,500t in 2022 and expects to produce about 1,350t in March, compared with about 1,400t in February. They hold about 600t of stocks now.
