Spot-futures price spread daily report: According to SMM data, on August 20, the theoretical premium of SMM ADC12 spot price over the closing price of the most-traded AD2511 futures contract at 10:15 am expanded to RMB 340 per tonne.
Industry updates: (1) Aluminium Scrap Imports: According to the latest customs data, domestic aluminium scrap imports in July 2025 were approximately 160,500 tonnes, up 18.4 per cent Y-o-Y. In terms of import sources, the main countries and regions for aluminium scrap imports in July 2025 were Thailand, the UK, Japan, and the US, among which Thailand accounted for 25.5 per cent of total imports.
(2) Unwrought aluminium alloy imports and exports: Customs data showed that unwrought aluminium alloy imports in July 2025 were 69,200 tonnes, down 28.4 per cent YoY and 10.6 per cent MoM. Cumulative imports from January to July 2025 were 611,500 tonnes, down 13.9 per cent YoY. Unwrought aluminium alloy exports in July 2025 were 24,900 tonnes, up 38.3 per cent Y-o-Y but down 3.3 per cent MoM. Cumulative exports from January to July 2025 were 145,200 tonnes, up 7.8 per cent YoY.
Aluminium scrap: On Wednesday, the spot price of primary aluminium decreased by RMB 70 per tonne compared to the previous trading day. SMM A00 spot closed at RMB 20,520 per tonne, and the overall aluminium scrap market prices declined. Baled UBC prices fell RMB 50 per tonne M-o-M, while shredded aluminium tense scrap (priced based on aluminium content) and wheel hub prices remained unchanged. In Anhui, the prices of raw aluminium series collectively rose 100 per tonne, and the difficulty in purchasing aluminium scrap continued to increase.
