[brief Review of Aluminum in SMM] Lun Aluminum was boosted by Shanghai Aluminum and stopped falling in Shanghai Aluminum Company to close at a new high in the near future.

Published: Apr 16, 2020 17:59 (GMT+8)
Lun Aluminium was boosted by Shanghai Aluminum to stop falling. Shanghai Aluminum Company closed at a new high in the near future.

SMM, 16 April:

The 2006 contract of Shanghai Aluminum Company was opened at 11915 yuan / ton in the morning. After the opening of the market, short risk aversion and reduction, the disk steadily set foot on the ten thousand two levels and continued to rise, closing at 12085 yuan / ton, up 135 yuan / ton from the previous day's close, up 1.13%. The trading volume was reduced by 673 to 107000 hands, and the unilateral short position was reduced by 3036 to 136000 hands. The Japanese K line closed at a Zhongyang line, the highest level since March 20. Short-term fundamentals of domestic trade repair logic gradually realized, superimposed macro liquidity loose, Shanghai aluminum borrow low rebound, need to pay attention to the sustainability of the rebound, the short term should not be too bearish. It is expected that tomorrow Shanghai aluminum company 2006 contract shock operation in 12000-12150 yuan / ton.

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
[SMM Flash News] South32 Revised Q4 '26 CIF MJP Premium Offer at US$265/mt
15 hours ago
[SMM Flash News] South32 Revised Q4 '26 CIF MJP Premium Offer at US$265/mt
Read More
[SMM Flash News] South32 Revised Q4 '26 CIF MJP Premium Offer at US$265/mt
[SMM Flash News] South32 Revised Q4 '26 CIF MJP Premium Offer at US$265/mt
Market sources report: South32 revised Q4 '26 CIF MJP Premium Offer at US$265/mt, down from US$325/mt. Validity 5 October 2026.
15 hours ago
India ADC 12 Holds Firm as LME Aluminium Falls; Tight Scrap Supply Limits Downside
Oct 01, 2026 17:48 (GMT+8)
India ADC 12 Holds Firm as LME Aluminium Falls; Tight Scrap Supply Limits Downside
Read More
India ADC 12 Holds Firm as LME Aluminium Falls; Tight Scrap Supply Limits Downside
India ADC 12 Holds Firm as LME Aluminium Falls; Tight Scrap Supply Limits Downside
India ADC 12 prices remained relatively resilient despite a 1.2% decline in LME aluminium 3-month prices between September 24 and 30.
Oct 01, 2026 17:48 (GMT+8)
Rio Tinto Secures Bell Bay Smelter Operations Through End-2031
Oct 01, 2026 17:09 (GMT+8)
Rio Tinto Secures Bell Bay Smelter Operations Through End-2031
Read More
Rio Tinto Secures Bell Bay Smelter Operations Through End-2031
Rio Tinto Secures Bell Bay Smelter Operations Through End-2031
Rio Tinto announced on October 1 that it had reached agreements with the Tasmanian Government, the Australian Commonwealth Government and Hydro Tasmania to extend electricity supply to the Bell Bay aluminium smelter through the end of 2031. The two governments will also provide a combined A$200 million support package over five years, contributing A$100 million each. Commercial terms of the power agreement were not disclosed. Bell Bay produces around 190,000 tonnes of primary aluminium annually, while its existing electricity contract was due to expire at the end of 2026. The agreement removes the smelter’s immediate operational uncertainty. Bell Bay is the third major Australian aluminium smelter to receive government-backed support in 2026, following Boyne and Tomago, highlighting continued pressure from high electricity costs and international competition.
Oct 01, 2026 17:09 (GMT+8)