Aluminum Prices Continue to Decline; Spot Aluminum Stops Falling at the Start of the Week [SMM South China Spot Aluminum Daily Review]

Published: Sep 15, 2026 09:50

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SMM, September 14:

Aluminum prices continued to decline today, with the spot market showing signs of stabilizing. Prompt prices were notably below the monthly average, significantly curbing one-way outflows. Incoming supply fell short of expectations, and inventory kept drawing down, supporting suppliers to hold offers at low levels with a strong inclination to hold back from selling. The futures discount largely disappeared, and physical cargo circulation was tight. The price decline prompted downstream buyers to gradually restock. Although the procurement pace was not aggressive, underlying demand was solid, which in turn encouraged traders to step up spot purchases and stockpile for delivery. Overall demand recovered somewhat, and transactions were moderate. Spot deals were concentrated at a premium of 185–225 yuan/mt over the SHFE aluminum 2609 contract.

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