Aluminum Prices Continued to Pull Back, Shipment Sentiment Continued to Weaken [SMM Spot Aluminum Midday Review]

Published: May 18, 2026 16:19

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SMM May 18 update:

During the morning session, the SHFE aluminum 2606 contract fluctuated downward, with the overall price center moving significantly lower compared to the previous trading day. Today, market purchasing sentiment remained weak. Affected by the sharp decline in aluminum prices, some sellers held back from selling, with strong sentiment to hold prices firm. Mainstream spot quotes ranged from SMMA00 minus 10 yuan/mt to the average price. Today, the east China market shipment sentiment index was 2.9, down 0.1 MoM; the purchasing sentiment index was 2.83, flat MoM.

Today, futures aluminum prices continued to pull back. In the central China market, buying sentiment recovered somewhat, and downstream processing enterprises showed stronger purchase willingness. However, some suppliers adopted a wait-and-see attitude, and shipment sentiment weakened. Ultimately, mainstream transaction prices in the central China market ranged from a premium of 10 yuan to a premium of 30 yuan over the central China price, with a trend of continued strengthening. Today, the central China market shipment sentiment index was 2.82, down 0.01 MoM; the purchasing sentiment index was 2.29, up 0.03 MoM.

Inventory side, aluminum ingot inventory in major consumption areas rose by 12,000 mt MoM today, with inventory buildup originating from Gongyi and Wuxi.

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.

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