Aluminum prices edged down today, with spot aluminum remaining weak [SMM South China spot aluminum daily review]

Published: Sep 28, 2026 11:31 (GMT+8)

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SMM, September 28:

Aluminum prices edged down today, and the spot market remained weak. After the short holiday, inventory did not accumulate, and absolute prices showed weakness. In early trading, sellers generally attempted to hold prices firm and were in no rush to sell, but with spot-futures price spread expectations already at high levels and the National Day holiday approaching, the need to sell and realize cash became stronger. Quotes gradually shifted lower, and supply of discounted cargoes was ample. On the demand side, buyers were somewhat bearish and cautious, with limited restocking demand. Combined with caution toward spot-futures price spread trends and more selling than buying, transactions were less than ideal. Spot transaction prices were concentrated at a premium of 250-290 yuan/mt over the SHFE aluminum 2610 contract.

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