[SMM Spot Aluminum Brief Review]

Published: Oct 23, 2025 11:32

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The most-traded SHFE aluminum contract maintained its trading center above 21,000 yuan/mt during the morning session. In east China, suppliers showed increased willingness to sell, but downstream purchasing remained weak due to high absolute prices. Around the market opening, suppliers attempted to offer at the average price to a discount of 10 yuan/mt, but trading volume was low. After negotiations, actual transactions were mainly concluded at a discount of 20–10 yuan/mt against the SMM average price. In central China, selling sentiment was strong before and just after the market opening, but purchasing interest was limited. With aluminum prices at high levels, cautious sentiment toward potential declines prevailed, leading enterprises to purchase cautiously and resulting in low trading volume. Around 10 a.m., major players entered the market to purchase at high prices, boosting trading volume. Market transaction prices rose to a discount of 10 yuan/mt to near the average price, and overall purchasing sentiment showed a rebound.

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