Secondary Aluminum Alloy 2603 Plummets 7%, Erasing January Gains Amid Weaker Macro Outlook

Published: Feb 2, 2026 15:01

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[SMM Secondary Aluminum Alloy Daily Review] Futures side, the secondary aluminum alloy 2603 contract opened at 22,700 yuan/mt today, then fluctuated downward, with the intraday decline continuing to widen. In the afternoon, the price further dropped to 21,840 yuan/mt, hitting the 7% limit down, essentially erasing all gains since January. Affected by falling precious metal prices and weakening macro expectations for interest rate cuts, market risk appetite saw a significant pullback, and the non-ferrous metals sector overall came under pressure and declined. Spot market side, the SMM ADC12 price today was lowered by 500 yuan/mt to 23,850 yuan/mt. Influenced by the continued weakness in futures, producer offers accelerated their downward adjustments, and the intraday decline noticeably expa

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