Aluminium sheet price, week 41/2026: SMM A00 drops to 23,650

Week 41/2026 (5 to 11 October) had only two trading sessions on the Shanghai Futures Exchange (SHFE), 8 and 9 October, after the National Day holiday from 1 to 7 October. Both sessions were down. In the last session of the week, Friday 9 October, the SMM A00 aluminium ingot price closed at 23,650 CNY/t, down 380 CNY/t (about 1.58%) from 30 September, the last session before the holiday and also the last session of week 40.

SMM A00 over the last eight sessions, LME 3-month and Vietcombank USD rate (compiled by H&D Steel)

Aluminium sheet price, week 41/2026: key figures

The SMM A00 price refers to A00-grade aluminium ingot in warehouse in Shanghai or Wuxi and includes China's 13% value-added tax. It is a raw material price. The price of sheet and coil landed in Vietnam is built from this ingot price plus rolling and processing fees (hot rolling, cold rolling, annealing, slitting), freight, import duty and financing costs. Rolling fees and freight do not move with the ingot price, so sheet prices rarely fall by the full amount of the ingot drop. Even so, a fall of almost 1.6% in two sessions is large enough for buyers to ask for a revised quote.

SMM A00 over the last eight sessions

Before the holiday, A00 eased from 24,270 CNY/t (22 September) to 24,240 CNY/t (23 and 24 September), then 24,170 CNY/t (28 September), 24,110 CNY/t (29 September) and 24,030 CNY/t (30 September). On the reopening day, 8 October, the price dropped 270 CNY/t to 23,760 CNY/t. On 9 October it fell a further 110 CNY/t to 23,650 CNY/t. It now stands 730 CNY/t below the 18 September peak of 24,380 CNY/t.

According to SMM, the two main drivers were the build-up of ingot stocks over the holiday and expectations of further US rate hikes keeping the dollar strong, which weighed on the whole base metals complex. As of Monday 12 October, aluminium ingot stocks in China's main consumption areas stood at 651,000 tonnes, down 35,000 tonnes from Thursday 8 October but still 13,000 tonnes above the pre-holiday level. SMM also noted that peak-season demand has not improved as much as expected, downstream buyers have turned more cautious at high prices, and its short-term view is for prices to fluctuate and adjust rather than trend.

LME and exchange rate: two reference lines

On the London Metal Exchange (LME), three-month aluminium bounced to 3,148.5 USD/t on 6 October, then fell to 3,069 USD/t on 8 October and ended the week at 3,070 USD/t on 9 October, 52 USD/t below the 2 October session. One point to note: SMM's morning summary of 12 October gives the LME three-month close on Friday as 3,062.5 USD/t, 7.5 USD off the official settlement shown on the Westmetall table. This update uses the official settlement.

As for the exchange rate, on 12 October Vietcombank quoted a USD selling rate of 26,070 VND, down 100 VND from 5 October. With both the ingot price and the exchange rate lower in the same week, the dong cost of an imported shipment benefits on both sides, although the exchange-rate part is under 0.4%.

What this means for aluminium sheet and coil buyers

• Answering last week's three questions. In the week 40 update we listed three things to watch: whether the 8 October session would hold the 30 September level, how much stocks would build, and whether LME would keep falling. The answers: the price did not hold, stocks are 13,000 tonnes above the pre-holiday level, and LME fell further. All three favour buyers.
• Ask for a revised quote before fixing. Quotes received before the holiday were usually based on the 30 September level of 24,030 CNY/t, while the ingot price is now 380 CNY/t lower. For unsigned A1050, A3003 and A5052 sheet orders, ask for the quote to be recalculated on the 9 October session.
• But do not wait too long. SMM expects prices to fluctuate rather than fall outright, and stocks began to draw down again from 12 October. Material needed in November should have alloy, thickness, width and temper confirmed early, as Chinese mills and ports take one to two weeks after the holiday to run normally.
• Compare quotes on the same basis. Check whether VAT is included, whether delivery is ex-warehouse or to your plant, the temper (H14, H24, O…) and the thickness tolerance. Two quotes sometimes differ only because of temper or tolerance.

See the previous week's update: aluminium sheet price, week 40/2026.

What to watch next week

In week 42/2026, watch whether A00 holds 23,650 CNY/t or keeps probing lower, the ingot inventory data on Thursday 15 October, and whether LME stabilises around 3,070 USD/t ahead of the US Federal Reserve meeting at the end of October.

References

• SMM: A00 price, 9/10 session
• SMM: morning meeting 9/10 (A00 price, 8/10 session)
• SMM: morning meeting 12/10 (inventory, outlook)
• SMM: aluminium ingot inventory 12/10; daily reviews 28/9 to 30/9; A00 price methodology
• Westmetall: LME aluminium settlements
• Webgia: Vietcombank exchange rates
• SHFE: 2026 holiday schedule; Vietnambiz: Vietcombank exchange rates

Need a quote for aluminium sheet or coil at post-holiday prices? See our aluminium sheet A1050, A3003, A5052 and aluminium coil and slit strip pages, or contact H&D Steel: hotline/Zalo 0904 678 236 (Sales Department). Please include alloy, thickness, width, temper and quantity so we can give you an accurate quote.