[SMM Flash News] On January 28, 2026, SHFE aluminum prices experienced a sudden surge.

Published: Jan 28, 2026 15:15

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As of 11:30 that day, the SHFE aluminum main continuous contract was quoted at 25,345 yuan/mt, a sharp increase of 1,100 yuan from the previous day's settlement price, representing a gain of 4.54%. Open interest for SHFE aluminum rose by approximately 68,000 lots in a single day, indicating a significant boost in market trading activity. The core drivers behind this unusual strength in SHFE aluminum prices stem from two major factors: first, the escalation of geopolitical conflicts between the U.S. and Iran has caused notable disruptions in aluminum product trade; second, against the backdrop of position limits in the precious metals market, capital has shown a trend of diversifying into the base metals sector; and third, recent heightened expectations for production cuts at domestic alumina refineries have further bolstered overall market bullish sentiment.
Risk Warning: The current surge in SHFE aluminum prices is driven by event-driven factors and capital inflows, with market trading sentiment in a phase of heightened excitement. Investors should remain vigilant against potential sentiment cooling and price correction risks triggered by multiple factors.

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