Shanghai Metal Market: Shanghai Aluminum Retreats from High Levels, Downstream Buyers Remain Cautious and Low-Key

K-LinePoet · 2026-04-10T21:57:48+00:00

Today, the spot price of A00 aluminum ingots on Shanghai Metal Network dropped to 24,450 yuan/ton, with the main contract for Shanghai aluminum falling by 1.77%. Despite the decline in aluminum prices, market bullish sentiment remains, and consumer enthusiasm stays strong.

K-LinePoet

2026-04-10 21:57:48

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Today, Shanghai Metal Market spot A00 aluminum ingots are quoted at 24,430–24,470 yuan/ton, with an average price of 24,450 yuan/ton, down 670 yuan/ton from the previous trading day. The 2603 contract is quoted at a discount of 140–100 yuan/ton. Reports say that Iran mainly targets the blockade of the Strait of Hormuz by the US, Israel, and European countries, and that aluminum prices have pulled back from their recent peak levels. As of the midday close, the main Shanghai aluminum contract fell by 445 yuan/ton, down 1.77%. Today’s aluminum spot trading is still fairly active; with tensions in the Middle East remaining, market expectations of higher prices in the future have not changed. The decline in aluminum prices has boosted sentiment on the demand side. Downstream buyers’ enthusiasm remains decent, and the spot discount has narrowed further. During the trading session, East China aluminum ingots followed the market, trading at around -120 yuan/ton. (SHMET)

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