Close this search box.


China stainless steel factory

On September 7th, Aluminum Prices Rise with Strong Quotations from Suppliers

Today, the London aluminum market showed significant volatility, with the LME three-month aluminum futures trading at $2,192 per tonne at 15:01 Beijing time, down $1 from the previous trading day’s settlement, a decrease of 0.02%.

The Shanghai aluminum main contract for September 7th opened at 19,180 yuan per tonne, reaching a high of 19,245 yuan per tonne and a low of 19,070 yuan per tonne. It closed at 19,175 yuan per tonne, up 105 yuan, or 0.55%, compared to the previous settlement price of 19,070 yuan per tonne. The total trading volume for the Shanghai aluminum main contract 2310 for the day was 215,781 lots, an increase of 38,494 lots, with an open interest of 270,558 lots, a decrease of 3,696 lots. Shanghai aluminum showed relative strength today. The unexpected increase in the U.S. service industry index has affected expectations of a Federal Reserve interest rate cut, leading to a relatively strong U.S. dollar index, which has suppressed the trend of non-ferrous metals. However, Shanghai aluminum exhibited strong performance during the day. The low inventory of aluminum ingots and the continued decline in aluminum warrants at the Shanghai Futures Exchange have provided strong support for aluminum prices. In addition, there have been frequent reports of favorable policies in the domestic real estate sector recently, and with the peak season for consumption approaching, there are optimistic expectations for downstream demand. In the short term, the center of gravity for Shanghai aluminum continues to move higher.

Today’s spot aluminum prices in the Yangtze River region ranged from 19,450 to 19,490 yuan per tonne, up 160 yuan with premiums of 0 to 40 yuan, an increase of 15 yuan. In Guangdong, spot aluminum prices were at 19,230 to 19,280 yuan per tonne, up 165 yuan with discounts of 220 to 170 yuan, an increase of 20 yuan. In the Shanghai area, spot aluminum prices ranged from 19,460 to 19,500 yuan per tonne, up 160 yuan with premiums of 10 to 50 yuan, an increase of 15 yuan. The aluminum market heated up today, with suppliers holding firm with their quotations, and buyers initially pressing for lower prices in the morning. In the afternoon, larger players entered the market actively, inquiring and purchasing, prompting suppliers to raise both premiums and aluminum prices. However, expectations of demand were constrained by the rising prices, leading to overall weak buying interest in the spot market.

New Center

More Posts

Say “NO” to foreign high-price monopolies! The core technology of the laser probe series has been independently controlled by domestic manufacturers!

Since 2010, Leimu Company has always adhered to the core concepts of technological innovation and precision manufacturing, committed to the independent research and development of metallurgical probes, and successfully launched a series of products including oxygen-determining probes, auxiliary gun probes, grenade-type probes and hydrogen-determining probes. A variety of high-quality probe products. With its profound accumulation

Send Us A Message


Let's have a chat