Futures Surged Today, Spot Aluminum Was Exceptionally Firm [SMM South China Spot Aluminum Daily Review]

Published: Aug 6, 2026 22:20

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SMM, August 6:

Today the futures surged, and spot aluminum in South China was exceptionally firm. Arrivals became even tighter and inventory destocking was significant; holders, especially those above the scale, were generally firmly bullish on the outlook and held prices firm when selling; the absolute price shot up, prompting a small portion to lower the discount and sell first, but this did not cause a major impact. Mainstream quotations were at a discount of -10 to a premium of +10 yuan/mt, and overall supply was slightly tight. Demand side, downstream users were unable to chase the rally, and just-in-time procurement also began to be under pressure and weaken; however, traders remained highly enthusiastic about entering the market to purchase, gradually shifting from pushing for lower prices and only buying at a discount to also buying at no premium. Supply and demand tightened amid divergent views, and overall transactions were commendable. Spot transaction prices were concentrated at a premium of 60 to 100 yuan/mt against the SHFE aluminum 2608 contract.

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