What is the market signal?

Rzzro's feed shows LME aluminum at $3,536/mt and SHFE aluminum at ¥24,610/mt, with LME strength reflecting tighter non-China supply.

What would change the view?

A move through the stated support or resistance level, a stock draw, or a new supply constraint would change the view.

Aluminum Holds Near $3,536/mt as LME Premium Outruns SHFE

Fact: Rzzro's price feed shows LME aluminum at $3,536/mt and COMEX aluminum at $3,858.75/mt, up 1.69%. SHFE aluminum is at ¥24,610/mt, down 1.42%, so the China signal is weaker than the global benchmark.

Research points to LME outperformance because supply outside China remains tight and inventories are historically low. Bauxite and alumina constraints are adding cost pressure, while Chinese ingot stocks are only modestly rebuilding.

Rzzro view: aluminum buyers should treat the LME premium as a supply signal, not a one-day rally. Regional freight, alumina costs and low stocks can keep premiums sticky even when SHFE softens.

What this means for buyers

Cover 3-6 months when LME pulls toward $3,450-$3,500/mt. Ask suppliers for alumina and freight pass-through clauses because cost pressure is moving through the chain.