Shanghai Metal Market: Shanghai Aluminum fluctuates and pulls back, downstream just-in-time consumption

K-LinePoet · 2026-04-02T05:21:53+00:00

Today, the average spot price of A00 aluminum ingots on Shanghai Metal Network is 24,630 yuan/ton, up by 30 yuan/ton. The main contract for Shanghai aluminum futures fell by 60 yuan/ton. Aluminum prices have temporarily paused their upward trend, and the market is cautious in consumption. Spot quotes have slightly loosened, and sellers are offering lower prices.

K-LinePoet

2026-04-02 05:21:53

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Today, Shanghai Metals Market spot A00 aluminum ingots are quoted at 24610-24650 yuan/ton, with an average of 24630 yuan/ton, up 30 yuan/ton versus the prior trading day. For the 2604 contract, the spread is quoted at a discount of 140-100 yuan/ton. The situation around the Gulf remains uncertain, which still provides support to aluminum prices. As of the midday close, the Shanghai aluminum main contract fell 60 yuan/ton, a decline of 0.24%. Aluminum prices have seen their upward trend slow; during the session, they oscillated and then pulled back. Downstream traders’ fear of rising prices has eased. As aluminum prices declined, downstream consumption became more cautious and mostly focused on replenishing inventory driven by just-needed demand. Spot quotes continued to loosen. Today, holders are quoting around -10 versus the web average, and in East China, aluminum ingot discounts have widened to around -120. (SHMET)

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