Core Viewpoint - Aluminum prices have been on the rise since November last year, with significant increases noted in early 2023, driven by expanding demand in various industries and insufficient production capacity to meet this demand [1] Industry Summary - Aluminum prices reached a historical high, with the Shanghai aluminum futures contract surpassing 25,000 yuan/ton for the first time on January 13, 2023, and fluctuating at high levels thereafter [1] - As of February 5, 2026, the Shanghai aluminum futures closed at 23,455 yuan/ton, reflecting an increase of approximately 7.94% from 21,730 yuan/ton in early December 2025 [1] - London aluminum prices rose from 2,800 USD/ton in early December 2025 to 3,059 USD/ton in early February 2026, marking a growth of about 9.25% [1] - China remains the largest producer and consumer of aluminum globally, with the expansion of downstream applications contributing to the rising prices [1] - Emerging industries such as electric vehicles and photovoltaic energy storage are significantly boosting aluminum consumption, leading to a continuous expansion of application scenarios [1] - The trend of "aluminum replacing copper" in sectors like home appliances and AI computing is entering a phase of large-scale application, further releasing market demand for aluminum [1]
铝价突破2.5万元/吨创纪录后高位震荡 下游订单推动电解铝企业满产运行
Sou Hu Cai Jing·2026-02-07 02:46