[SMM Spot Aluminum Market Brief Review]

Published: Oct 22, 2025 10:59

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Overall, aluminum ingot destocking provided some support for spot premiums/discounts, but with aluminum prices remaining high, downstream purchasing was weak. Amid this tug-of-war, spot premiums/discounts weakened slightly. In east China, around the market opening, suppliers mainly offered at the average price, with average transaction volumes. Coupled with stronger aluminum prices, actual transactions were mainly at a discount of around 10 yuan/mt against the SMM average price. In central China, spot transactions were average today. As aluminum prices strengthened, downstream shipments increased slightly, but downstream buying sentiment weakened. Some downstream players reported longer payment cycles and a decline in orders on hand, raising concerns about the sustainability of demand. Actual transactions were mainly at a discount of 10 yuan/mt to parity against the SMM average price.

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