China's Nuclear Power Scale Surges to World's Top Spot, Blue Book Reveals

[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

On February 2, 2026, the SHFE aluminum market experienced significant anomalies. As of 14:00 that day, the price of the most-traded SHFE aluminum contract rapidly declined, with the drop widening to approximately 8.26%, settling at 23,225 yuan/mt. Intraday volatility significantly intensified, and market panic sentiment heated up. Influenced by the decline in precious metals and weakening expectations for macro interest rate cuts, coupled with a 1% single-day rise in the US dollar index, nonferrous metals collectively plummeted.

[SMM Market Movement] On the afternoon of February 2, multiple non-ferrous metal varieties on the SHFE hit limit-down, with copper and aluminum falling 9%, and tin and nickel falling 11%.