SHFE Aluminum Fluctuated at Highs, Spot Premiums Were Flat on the Last Trading Day [SMM Spot Aluminum Midday Commentary]

Published: Aug 17, 2026 14:32

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SMM News on August 17:

In the morning session, the SHFE aluminum 2608 contract continued to trade at elevated levels. Today was the last trading day for the SHFE aluminum 2608 contract, and the price spread between near-month contracts was contango 20-contango 50 yuan/mt. Today, spot premiums for SHFE aluminum were mainly transacted in the range of 09-10 yuan/mt to 09+10 yuan/mt. Today, the east China market’s shipment sentiment index was 3.15, up 0.01 WoW; the procurement sentiment index was 3.4, up 0.06 WoW.

Today, aluminum futures rebounded slightly again. As it was also the first day of the week, downstream processing enterprises in the central China market showed low stockpiling sentiment, and overall procurement sentiment fell WoW from last Friday, with the market’s overall trading atmosphere remaining sluggish. Ultimately, the actual transaction price range in the central China market hovered around a discount of 90-110 yuan/mt against the SHFE aluminum 09 contract. Today, the central China market’s shipment sentiment index was 3.09, unchanged WoW; the procurement sentiment index was 2.9, down 0.07 WoW.

Inventory side, today aluminum ingot inventory in major consumption areas decreased by 500 mt WoW, with only Gongyi showing an inventory buildup.

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