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Top Stories

SMM

Geopolitical easing and manufacturing weakness exert dual pressure; SHFE and LME aluminium prices plunge sharply
Primary AL
Futures: The most-traded SHFE aluminium contract opened at RMB 24,025 per tonne in the night session of June 15, hit a high of RMB 24,025 per tonne, a low of RMB 23,730 per tonne, and closed at RMB 23,795 per tonne, down 1.55 per cent from the previous close. During the session, prices fluctuated and pulled back before plunging sharply, forming a large bearish candlestick that fell below the 5-period MA of 24,021.00 and simultaneously traded below all medium and long-term moving averages—MA10 ...
After peaking at 1.47 Mt, accelerated pullback—How far can China’s aluminium ingot destocking go?
Primary AL
Aluminium ingot inventory: Destocking turning point established at high levels, but absolute volume pressure persists China’s aluminium ingot inventory, after hitting a peak not seen in nearly three years in 2026, accelerated its pullback this week. According to SMM statistics, as of June 11, aluminium ingot inventory in major Chinese consumption areas was reported at 1.312 million tonnes, having cumulatively destocked by nearly 160,000 tonnes from the early-May high of around 1.47 million to ...

Primary AL
Futures: The most-traded SHFE aluminium contract opened at RMB 24,165 per tonne in the night session on Jun 12, with its highest price at RMB 24,280 per tonne, lowest price at RMB 24,145 per tonne, and closing price at RMB 24,275 per tonne, up 0.46 per cent from the previous settlement. Prices bottomed out during this period, forming a bullish candlestick that touched the 5-period moving average of 24,172.78. The price climbed back above MA5 but remained below the MA10 (24,139.33), MA20 (24,2 ...
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Limited maintenance support amidst persistent import pressure petroleum coke prices to stay weak short term
SupplementAL
14 Jun 2026
Entering June, the petroleum coke market broadly exhibited a pattern of initial decline followed by stabilisation, with divergent trends among different varieties. Early in the month, low-sulphur petroleum coke prices were cut in a concentrated manner, intensifying bearish sentiment and generally softening prices across various specifications. In mid-June, domestic major and independent refineries added more maintenance units, causing a phase of contracted commercial volume of domestic petrol ...
Aluminium processor’s operating rate drops to 63.6%; Prices fall amidst off-season decline
Downstream
13 Jun 2026
This week, the operating rate at leading aluminium downstream processors in China came in at 63.6 per cent, down 0.4 percentage points W-o-W. Off-season characteristics emerged, with most segments under general pressure, while only the aluminium wire and cable sector bucked the trend and held up well. The primary aluminium alloy operating rate held steady at 59.4 per cent; auto production improved M-o-M but remained down Y-o-Y, and enterprises maintained stable production and destocking. The ...
Dramatic reversal in US-Iran conflict, ECB rate hike pressures metal prices
Primary AL
12 Jun 2026
Futures: SHFE aluminium closed at RMB 24,155 per tonne in the daytime session, up 0.62 per cent, remaining below all key moving averages (MA5≈24,072, MA10≈24,300, MA30≈24,450, MA60≈24,590), with clear downward pressure from short-term MAs and the bearish alignment still in place. The MACD indicator showed DIF=-145.65, DEA=-115.87; the death cross persisted, and the negative histogram narrowed to -61.57 (vs. -98.93 the prior day), suggesting weakening bearish momentum. Trading volume shrank to ...
May auto market: domestic demand under pressure, exports impressive; price difference between A00 aluminium and aluminium scrap narrows, raw materials in tight supply
Primary AL
11 Jun 2026
Futures: Overnight, the aluminium alloy 2608 contract opened higher, then retreated after rapid rise, reaching a high of RMB 23,465 per tonne and a low of RMB 23,005 per tonne, closing at the settlement price of RMB 23,251 per tonne. The minutely chart showed that after the night session opened, prices quickly surged to around 23,465, then fluctuated downward, with a slight rebound near the close. The RSI indicator was already in overbought territory. Trading volume declined from the previous ...
Geopolitical disturbances weaken marginally, accelerating destocking supports aluminium prices to fluctuate upward
Primary AL
10 Jun 2026
Futures: SHFE aluminium settled at RMB 23,900 per tonne, down 0.67 per cent. Prices further moved away from all moving averages (MA5=24,146, MA10=24,389, MA30=24,483, MA60=24,612), with the moving average system showing an accelerated bearish alignment and divergence, and weakness intensifying. The MACD indicator showed DIF=-142.99, DEA=-97.72, with the death cross downward and the negative histogram expanding to -90.53, as bearish momentum continued to strengthen. Trading volume shrank to 81, ...
Aluminium scrap evolves into strategic resource: Nations roll out policies to secure domestic supply
Recycled AL
10 Jun 2026
For decades, aluminium scrap has been traded globally as a conventional recyclable commodity, with trade flows largely driven by price, logistics costs and regional supply-demand dynamics. However, as energy transition, low-carbon manufacturing and resource security become increasingly important, the strategic value of aluminium scrap is being reassessed worldwide. From the European Union's consideration of scrap export restrictions, to the US aluminium industry's call to classify scrap as a ...
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