Inventory Buildup Sends Aluminum Prices Slightly Lower; Spot Aluminum in the Doldrums with Adjustments [SMM South China Spot Aluminum Daily Review]

Published: Sep 21, 2026 12:43

Save

SMM, September 21:

Aluminum prices edged down today, with the spot market in the doldrums. Arrivals increased over the weekend and inventory accumulated slightly, but the growth was mainly in imported aluminum, while China-origin supply remained relatively tight, limiting the improvement in spot circulation. Suppliers, especially traders above a certain scale, regained their willingness to hold prices firm, with most quotes staying steady and only a few slightly lower. Transactions at discounts were actually limited, and supply circulation was tight. On the purchasing side, both downstream buyers and traders showed stronger restocking interest, shifting from earlier wait-and-see and pushing for lower prices to actively buying non-premium cargoes. Overall transactions improved. Spot transactions were concentrated at premiums of 210-250 yuan/mt over the SHFE aluminum 2610 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

1 hour ago

SHFE Aluminum Futures Sideways, Central China Market Sluggish Amid Low Restocking Interest

Today, SHFE aluminum futures moved sideways with adjustments, while trading sentiment in the central China market remained sluggish. At the start of the week, downstream processing enterprises showed limited willingness to restock, having already made substantial purchases at previously low prices, which drove current market quotes lower. Additionally, with the holiday approaching, suppliers tended to reduce inventory and showed little inclination to hold prices firm, with only some major players maintaining high premiums. Ultimately, actual transaction prices in the central China market were around a discount of 70-100 yuan/mt against the SHFE aluminum October contract.

1 hour ago

2 hours ago

Aug Unwrought Aluminum Alloy Imports Continued to Recover MoM, Export Growth Narrowed [SMM Analysis]

[SMM Analysis]Overall, aluminum alloy imports rose MoM for the second consecutive month in August, with import volumes continuing to recover, though they remained basically flat YoY. Exports, while still posting strong YoY growth, pulled back MoM for the second straight month, suggesting that the earlier high-growth momentum in exports has weakened somewhat.

2 hours ago

China's Secondary Aluminum Alloy Ingots Inventory Rises 28 MT to 12,720 MT

[SMM Aluminum Flash] The daily inventory of secondary aluminum alloy ingots in the three major consumption regions in China was reported at 12,720 mt today, an increase of 28 mt from the previous trading day.

2 hours ago