Aluminum Prices Soar, Secondary Alloy Firms Hike Rates Amid Thin Trading

Published: Jan 28, 2026 17:51

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[SMM Aluminum Alloy Daily Report] Aluminum prices surged significantly today, driven by event catalysts and capital flows, with A00 aluminum quoted at 24,260 yuan/mt, up 390 yuan/mt; SMM ADC12 was raised by 150 yuan/mt to 24,150 yuan/mt. As ADC12 showed relative resilience during the aluminum price correction earlier in the week, secondary aluminum enterprises adjusted prices cautiously in the morning, generally following the increase by 100-200 yuan/mt. However, after 11:00, as futures continued to climb, market participants' willingness to catch up strengthened, leading to an additional raise of 200-300 yuan/mt on top of the previous adjustments. In terms of trading performance, the "price without market" characteristic became more pronounced, with downstream players showing strong fear of high prices, resulting in sparse overall transactions. Affected by this, pre-holiday stockpiling enthusiasm was dampened again, and some enterprises already planned to enter holiday mode early, with subsequent demand expected to continue weakening.

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