Chinese secondary aluminum alloy ingot producers see increasing inventory
2023-04-18 11:25:04 [Print]
BEIJING (Asian Metal) 18 Apr 23 - At present, the demand for secondary aluminum alloy ingot keeps declining and producers bear increasing sales pressure. On Monday, mainstream prices for Chinese aluminum alloy ingot ADC12 stood at RMB18,500-18,700/t (USD2,691-2,720/t) delivered D/P, unchanged from last Friday. Insiders reckon that prices for Chinese aluminum alloy ingot ADC12 would move down in the following week due to current rare orders from downstream customers.
A producer in Northwest China revealed that the demand of their downstream customers keeps declining this week. As a result, their inventory of aluminum alloy ingot increases to current about 500t, up from about 250t in the same period last month. "On Monday, we could accept RMB18,700/t (USD2,720/t) delivered D/P for aluminum alloy ingot ADC12 and refused any counteroffers, the same as last Friday. We didn't close deals today, while last sold 33t at RMB18,900/t (USD2,749/t) delivered T/T 30 days last Friday," the source said, adding that the demand for secondary aluminum alloy ingot is weak at present, so prices for Chinese aluminum alloy ingot ADC12 might decline in the following week.
With an annual production capacity of 60,000t, the producer produced about 27,200t in 2022 and expects to produce about 1,800t in April, compared with about 2,500t in March. They hold 500t of stocks now.
A producer in East China indicated that the demand for secondary aluminum alloy ingot is weak this week, and their inventory of the material increases to around 600t now, compared with only about 300t in the same period last month. "On Monday, we offered RMB18,600/t (USD2,706/t) delivered D/P for aluminum alloy ingot ADC12 and could accept a concession of RMB100/t (USD14.55/t) for regular customers, in line with last Friday. We failed to close deals today, while last sold 30t at RMB18,600/t (USD2,706/t) delivered T/T 30 days last Thursday," the source said, adding that orders from their downstream customers keep decreasing now, so prices for Chinese aluminum alloy ingot ADC12 might move down in the coming week.
With an annual production capacity of 36,000t, the producer produced about 10,500t in 2022 and expects to produce about 1,500t in April, up from around 1,350t in March. They hold about 600t of stocks now.
A producer in Northwest China revealed that the demand of their downstream customers keeps declining this week. As a result, their inventory of aluminum alloy ingot increases to current about 500t, up from about 250t in the same period last month. "On Monday, we could accept RMB18,700/t (USD2,720/t) delivered D/P for aluminum alloy ingot ADC12 and refused any counteroffers, the same as last Friday. We didn't close deals today, while last sold 33t at RMB18,900/t (USD2,749/t) delivered T/T 30 days last Friday," the source said, adding that the demand for secondary aluminum alloy ingot is weak at present, so prices for Chinese aluminum alloy ingot ADC12 might decline in the following week.
With an annual production capacity of 60,000t, the producer produced about 27,200t in 2022 and expects to produce about 1,800t in April, compared with about 2,500t in March. They hold 500t of stocks now.
A producer in East China indicated that the demand for secondary aluminum alloy ingot is weak this week, and their inventory of the material increases to around 600t now, compared with only about 300t in the same period last month. "On Monday, we offered RMB18,600/t (USD2,706/t) delivered D/P for aluminum alloy ingot ADC12 and could accept a concession of RMB100/t (USD14.55/t) for regular customers, in line with last Friday. We failed to close deals today, while last sold 30t at RMB18,600/t (USD2,706/t) delivered T/T 30 days last Thursday," the source said, adding that orders from their downstream customers keep decreasing now, so prices for Chinese aluminum alloy ingot ADC12 might move down in the coming week.
With an annual production capacity of 36,000t, the producer produced about 10,500t in 2022 and expects to produce about 1,500t in April, up from around 1,350t in March. They hold about 600t of stocks now.
