[LME Aluminium Reclaims USD 3,200/t as US-Iran Peace Talks Lift Sentiment]

Published: Aug 6, 2026 09:55

Save

Three-month LME aluminium futures rose 1.3% to USD 3,263.50/tonne as renewed optimism over US-Iran peace talks weakened the US dollar and eased fears over global energy supplies and shipping disruptions; earlier hostilities had shut the Bab-el-Mandeb Strait, cutting off the Red Sea–Gulf of Aden route and forcing vessels to reroute around the Cape of Good Hope, lengthening transit times and pushing up freight and insurance costs, while LME aluminium inventories fell 5,675 tonnes to 238,350 tonnes, signaling tighter exchange stocks.

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

1 hour ago

China's Cast Aluminum Alloy Ingots Inventory Falls for 10 Weeks, Destocking Pace Slows

[SMM Aluminum Alloy Express] SMM data showed that China’s social inventory of cast aluminum alloy ingots fell to 24,000 mt, marking ten consecutive weeks of destocking, with a cumulative decline of 38,900 mt. However, the pace of destocking slowed significantly this week, recording a mere WoW drop of 200 mt, as warehouse withdrawal momentum further weakened. The market remains in the high-temperature off-season, with end-use demand staying weak. Meanwhile, the continued strengthening of futures drove a widening of the futures premium, and spread traders have started to make purchases on dips.

1 hour ago

30,000 mt Alumina Traded at $356/mt FOB East Australia for September 2026

Alumina Transaction: On August 5, 2026, 30,000 mt of alumina were transacted at $356/mt FOB East Australia for September loading.

1 hour ago

2 hours ago

Contract Hits a New Stage High, Aluminum Alloy Market Consolidates at Highs, Drifting Higher [SMM Cast Aluminum Alloy Morning Comment]

[SMM Cast Aluminum Alloy Morning Comment: Contract Hits New Stage High, Aluminum Alloy Market Consolidates at Highs, Drifting Higher] Overnight, the aluminum alloy 2610 contract opened at 23,435 yuan/mt, shot up to 23,540 yuan/mt, hitting a new stage high, then pulled back to a low of 23,380 yuan/mt, and closed at 23,450 yuan/mt, up 20 yuan, or 0.09%, from the settlement price.

2 hours ago