Aluminium sheet price, week 42/2026: SMM A00 eases to 23,460

In week 42/2026 (12 to 18 October), the Chinese aluminium ingot price fell sharply in one session, then recovered. In the last session of the week, Friday 16 October, the SMM A00 aluminium ingot price closed at 23,460 CNY/t, down 190 CNY/t (about 0.8%) from 9 October, the last session of week 41. The weekly low was 23,260 CNY/t, recorded on 15 October.

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

Aluminium sheet price, week 42/2026: key figures

The SMM A00 price is the price of A00-grade aluminium ingot in warehouse in Shanghai or Wuxi and includes China's 13% value-added tax. The price of sheet and coil landed in Vietnam equals the ingot price plus rolling and processing fees (hot rolling, cold rolling, annealing, slitting), freight, import duty and financing costs. These add-ons move little with the ingot price, so sheet prices usually move later and by less than A00.

SMM A00 over the last eight sessions

After two down sessions right after the National Day holiday (23,760 CNY/t on 8 October and 23,650 CNY/t on 9 October), A00 opened week 42 with a 160 CNY/t rise to 23,810 CNY/t on 12 October. The next three sessions were all down: 23,710 CNY/t (13 October), 23,620 CNY/t (14 October) and 23,260 CNY/t (15 October). The 15 October session alone lost 360 CNY/t, the largest one-day fall since the holiday. On 16 October the price recovered 200 CNY/t to 23,460 CNY/t. Compared with the pre-holiday session of 30 September (24,030 CNY/t), the ingot price is now 570 CNY/t lower.

According to SMM, the main pressure came from the United States. US inflation for September came in above forecasts, raising expectations of a rate hike by the US Federal Reserve (Fed); the stronger dollar weighed on the whole base metals complex. On the other side, physical supply and demand supported prices. Aluminium ingot stocks in China's main consumption areas stood at 636,000 tonnes on 15 October, down 50,000 tonnes in a week. By 19 October they had fallen a further 29,000 tonnes, to about 607,000 tonnes. China's exports of unwrought aluminium and semis reached 656,000 tonnes in September, up 25.9% year on year. On 16 October the A00 spot premium over the futures contract rose to 270–290 CNY/t, the highest this year according to SMM. SMM expects prices to move sideways at low levels in week 43.

LME and exchange rate: two reference lines

On the London Metal Exchange (LME), three-month aluminium fell for four sessions in a row, from 3,070 USD/t on 9 October to 3,013.5 USD/t on 14 October and 2,994.5 USD/t on 15 October, breaking below 3,000 USD/t. On 16 October it recovered to 3,012 USD/t, down 58 USD/t for the week. One discrepancy to note: SMM's morning summary of 15 October gives the LME three-month price for 14 October as 2,990.5 USD/t, 23 USD below the official settlement on the Westmetall table. This update uses the official settlement.

The exchange rate barely moved. On 19 October Vietcombank quoted a USD selling rate of 26,080 VND at 8:32 and 26,100 VND at 16:20, 30 VND above 12 October. Import costs therefore followed the ingot price almost entirely.

What this means for aluminium sheet and coil buyers

• Answering last week's three questions. The week 41 update listed three things to watch. A00 did not hold 23,650 CNY/t, dipping to 23,260 CNY/t before recovering. Stocks fell 50,000 tonnes in a week, better than feared after the holiday. LME did not stabilise around 3,070 USD/t and spent one session below 3,000 USD/t. The fast stock draw suggests limited further downside.
• The weekly low lasted one session. 15 October was the best moment to fix a price, but the market recovered the next day, and on 19 October, the first session of week 43, SMM put A00 at 23,650 CNY/t. Material needed in November can be priced in two tranches to reduce risk.
• Watch the spot premium. Futures are weak but the spot premium is at a yearly high, meaning physical ingot is not as soft as the futures screen suggests. When a supplier prices sheet on A00, ask which SMM A00 session they use.

See the previous week's update: aluminium sheet price, week 41/2026.

What to watch next week

In week 43/2026, watch three things: whether A00 holds above the 23,260 CNY/t low, whether the Thursday 22 October inventory data shows further draws, and whether LME holds 3,000 USD/t ahead of the Fed meeting on 27–28 October. SMM's morning summary of 19 October says traders now lean towards the Fed holding rates in October, unlike the rate-hike expectations of mid-week 42.

References

• SMM: morning meeting 19/10 (A00 price 16/10, inventory)
• SMM: morning meeting 16/10 (A00 price 15/10, inventory 15/10)
• SMM: morning meeting 15/10 (US inflation, aluminium exports)
• SMM: morning meeting 14/10; A00 spot prices on 12/10, 14/10, 16/10, 19/10; spot premium 16/10; A00 price methodology
• Westmetall: LME aluminium settlements
• Webgia: Vietcombank exchange rates
• Vietnambiz: Vietcombank exchange rates

Need a quote for aluminium sheet or coil at current 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.