SHFE Aluminum Stops Falling and Edges Up; Market Entry Willingness Remains Low [SMM South China Spot Aluminum Daily Review]

Published: Jun 26, 2026 11:18

Save

SMM June 26 news:

The futures stopped falling and edged up today, while the South China spot market gradually weakened amid divergence. The low aluminum prices and strong destocking continued to support suppliers in holding prices firm when selling, and buyers maintained some rigid demand for cargoes with invoices dated this month, with this segment of deals being overall satisfactory. However, for cargoes with invoices dated next month, offers clearly outnumbered purchases, showing lackluster performance. Coupled with expectations that the spot-futures price spread would remain relatively high, the need to cash in for the half-year end drove sellers to sell relentlessly, causing supply to become increasingly abundant. Mainstream quotations were at a discount of 20 yuan/mt to a premium of 10 yuan/mt, generally lower. Downstream sentiment turned more bearish, and procurement fell short, while traders pushed for lower prices and stayed on the sidelines, showing low willingness to enter the market. Overall transactions significantly cooled. Spot transaction prices were concentrated at a premium of -30 yuan/mt to 10 yuan/mt against the SHFE aluminum 2607 contract.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.minsAgo

Aluminum Futures Fell for Consecutive Days, Trading Atmosphere Sluggish [SMM Spot Aluminum Midday Commentary]

Common.Time.minsAgo

Aluminum ADC12 Import Prices Drop, Domestic-Ex-China Gap Narrows to 2,300 Yuan/mt

[SMM aluminum flash] Current import ADC12 prices have pulled back to $3,230–$3,300/mt, and the domestic-ex-China inversion gap has narrowed to around 2,300 yuan/mt, the lowest level since mid-March. As prices outside China soften, import losses have recovered markedly from the earlier period. However, constrained by the still-large inversion, the import window remains closed. The willingness to bring in overseas resources is limited, and in the short term, their incremental supplement to domestic supply remains weak.

Common.Time.minsAgo

Domestic ADC12 Market Stable, SMM Price Unchanged at 23,850 Yuan/mt Amid Bearish Sentiment Easing

[SMM Aluminum Alloy Daily Review] Domestic ADC12 market saw stable operation today, with the SMM ADC12 price unchanged from the previous day at 23,850 yuan/mt. The bearish sentiment caused by the steady decline earlier eased, and the market entered a phase of wait-and-see. Demand side, orders at downstream die-casting enterprises remained insufficient, with off-season features persisting, which to some extent constrained price rises. Cost side, procurement of compliant aluminum scrap remained challenging, tax invoice and raw material costs stayed high, squeezing profit margins at secondary aluminum enterprises but providing strong bottom support for ADC12 prices.

Common.Time.minsAgo