Futures rose again on Friday, spot aluminum showed strong resilience [SMM South China Spot Aluminum Daily Review]

Published: Aug 7, 2026 17:22

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SMM August 7 News:

Today, futures continued to surge, and spot cargo in South China showed strong resilience. Arrivals have already shown tightness, and the destocking trend is stable, continuing to support large-scale holders to be bullish on the outlook, hold prices firm and hold back from selling, and even some actively try to raise prices. Even without purchase response, they firmly refuse to adjust prices. Mainstream quotations were at a premium of 0 to +10 yuan/mt, with tight circulation in some areas. Demand side, downstream was temporarily unable to accept the price surge, and only made the minimum just-in-time procurement. However, with limited circulation, traders actively entering the market to purchase at non-premium prices have been sufficient to absorb the supply. The supply-demand pattern was tight, and overall transactions were stable with a positive bias. Spot transaction prices were concentrated at premiums of 65 yuan/mt to 105 yuan/mt over the SHFE aluminum 2608 contract.

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