Basis Report: SMM data shows that on July 1, the SMM ADC12 spot price maintained a theoretical premium of RMB 345 per tonne against the 10:15 AM closing price of the most-traded cast aluminium alloy contract (AD2511).
Aluminium Scrap Sector: Primary aluminium spot prices remained unchanged from the previous trading day, with SMM A00 aluminium closing at RMB 20,780 per tonne and aluminium scrap market prices stabilizing overall. Baled UBC scrap quotations concentrated at RMB 15,300-15,800 per tonne (tax excluded), while shredded aluminium tense scrap clustered at RMB 15,800-17,300 per tonne (tax excluded). By product category, baled UBC prices dropped RMB 100 per tonne MoM from the previous day, though localized material shortages prompted selective premium collections against market trends. Regarding scrap-to-primary spreads, the Foshan mixed aluminium extrusion scrap free of paint price difference widened RMB 20 per tonne to RMB 1,756 per tonne compared to last Friday, while the Jiangsu bare bright aluminium wire spread narrowed RMB 273 per tonne MoM to return to RMB 653 per tonne.
Overseas Markets: Imported ADC12 CIF quotations held steady at USD 2,450-2,480 per tonne, with import spot prices hovering near RMB 19,200 per tonne and instant import losses around RMB 800 per tonne. Thailand's domestic ADC12 tax-excluded quotations concentrated at 82-83 baht/kg.
Inventory Update: SMM statistics indicate that as of July 1, the combined social inventory of secondary aluminium alloy ingots across Foshan, Ningbo and Wuxi reached 21,048 tonnes, up 1,287 tonnes from the previous trading day.
