Shanghai Metal Market: Shanghai Aluminum is on the rise, downstream consumption based on demand

K-LinePoet · 2026-03-04T21:15:18+00:00

Today, the Shanghai Metal Market A00 aluminum ingot spot price rose, with an average price of 23,620 yuan/ton. Aluminum prices are fluctuating with a slight upward trend, and the main Shanghai aluminum futures contract has also increased. Influenced by the Middle East situation, market sentiment towards rising aluminum prices has increased, despite no significant growth in actual consumption.

K-LinePoet

2026-03-04 21:15:18

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Today, Shanghai Metal Market spot A00 aluminum ingots are quoted at 23,600-23,640 yuan/ton, with an average price of 23,620 yuan/ton, up 210 yuan/ton from the previous trading day. The 2603 contract is quoted at a premium of 190-150 yuan/ton. Aluminum prices remain volatile with a slight upward trend. By midday, the Shanghai aluminum main contract rose by 330 yuan/ton, a 1.39% increase. Due to the Middle East situation, Iran’s blockade of the Strait of Hormuz is expected to disrupt shipments in the Gulf region. Short-term supply shortages have led to a bullish market sentiment for aluminum prices. Although actual consumption growth is not significant, downstream sentiment has improved compared to earlier, and holders’ quotes remain firm. Today, East China aluminum ingots are maintaining a price around -170 level. (SHMET)

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