Shanghai Nonferrous Metals Network: Shanghai Aluminum Slightly Retreats, Spot Transactions Remain Steady

K-LinePoet · 2026-04-08T18:43:53+00:00

Today, the Shanghai Metal Market spot A00 aluminum ingot average price is 24,480 yuan/ton, down 30 yuan/ton. Aluminum prices are relatively strong but the upward momentum is slowing. The Shanghai aluminum main contract fell by 155 yuan/ton, high inventories suppress the spot market, and demand remains steady.

K-LinePoet

2026-04-08 18:43:53

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Today, Shanghai Metals Market spot A00 aluminum ingots are quoted at 24,460–24,500 yuan/ton, with an average price of 24,480 yuan/ton, down 30 yuan/ton from the previous trading day. For the 2604 contract, the quote is at a discount of 120–80 yuan/ton. The situation around the Gulf remains uncertain; however, aluminum prices still have support. The upward momentum of Shanghai aluminum has slowed, but the room for pullbacks is also limited. As of the midday close, the most active Shanghai aluminum contract fell by 155 yuan/ton, a decline of 0.63%.

Overall, aluminum prices are biased toward strength. After the price level shifted downward, downstream procurement sentiment remained relatively stable, but high inventories continue to suppress the spot market. During the day, downstream consumption is based on needs; traders circulate goods and transact with customers, and holders quote about +10 versus the market average. After aluminum prices fell, East China aluminum ingots followed suit as the “iron-making liquid” spread narrowed slightly to around -100. (SHMET)

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