信期货有限公司 2026年02月02日 IC Futures Company Limited 铝产业链日度数据跟踪 二、电解铝 三、铝合金 一、氧化铝 （1）提我的钢铁网，2月2日固产矿价格为491元 吨，环比0元 /吨，2月几、《1）据我的钢铁网，2月2日电解铝现货均价为23723元 /吨，环比-92元／（1）提我的钢铁网、2月2日生铝价格为1730元/吨，熟 铝价格为17750元/吨,环比-700元/吨。 吨;升贴水为-220元/吨,环比-10元/吨。 内亚进口矿价格61美元/干吨,环比0美元/干吨; (2) 据我的钢铁网,2月2日ADC12价格为23300元/吨,环比-400元/吨。 (2) 据上期所,2月2日期货库存为150459吨,环比+5388吨。 (2) 据阿拉丁,1月30日现货价格指数为2610元/吨,环比0元/吨。 (3) 据我的钢铁网,2月2日铝棒加工费为21元/吨,环比+60元/吨。 (3) 据上期所,2月2日期货库存为67725吨,环比-481吨。 (3) 据上期所,2月2日期货库存为182201吨,环比+11097吨。 氧化铝基本面观测指标 图表 1: 国产铝土矿价格 图表 2: 几 ...

新能源及有色金属日报 | 2026-02-03 库存方面，截止2026-02-02，SMM统计国内电解铝锭社会库存81.7万吨，较上一期变化3.5万吨，仓单库存150459 吨，较上一交易日变化5388吨，LME铝库存497175吨，较上一交易日变化1450吨。 氧化铝现货价格：2026-02-02SMM氧化铝山西价格录得2610元/吨，山东价格录得2555元/吨，河南价格录得 2635元/吨，广西价格录得2675元/吨，贵州价格录得2735元/吨，澳洲氧化铝FOB价格录得308美元/吨。 氧化铝期货方面：2026-02-02氧化铝主力合约开于2767元/吨，收于2772元/吨，较上一交易日收盘价变化-17 元/吨，变化幅度-0.61%，最高价达到2836元/吨，最低价为2738元/吨。全天交易日成交983744手，全天交易日 持仓375783手。 铝合金价格方面：2026-02-02保太民用生铝采购价格17100元/吨，机械生铝采购价格17500元/吨，价格环比昨 日变化-600元/吨。ADC12保太报价23300元/吨，价格环比昨日变化-600元/吨。 铝合金库存：铝合金社会库存6.73万吨，厂内库存7. ...

晋控电力（000767.SZ）2月3日在投资者互动平台表示，中铝新材料公司生产阳极炭素，阳极炭素主要 作为生产电解铝的原料。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：请问我公司参股的中铝山西新材料有限公司是否生产 阳极碳素？如果是，是否用于电磁储能中？ ...

Report Industry Investment Rating - Not provided Core Viewpoints - The finished products are expected to move in a volatile and consolidating manner, with the price center shifting downward and showing weak performance. The aluminum ingot price is expected to experience a short - term weak callback, and the short - term market fluctuates sharply [1][2][3] Summary by Related Content Finished Products - Yungui region's short - process construction steel producers will stop production for maintenance from mid - January, and resume production around the 11th to 16th day of the first lunar month. The total output of construction steel is expected to be affected by 741,000 tons during this period. Six short - process steel mills in Anhui, one stopped on January 5th, most will stop in mid - January, and a few after January 20th. The daily output is expected to be affected by 16,200 tons [1] - From December 30, 2024, to January 5, 2025, the total transaction area of newly - built commercial housing in 10 key cities was 2.234 million square meters, a 40.3% decrease from the previous period and a 43.2% increase year - on - year [2] - The finished products continued to decline yesterday, reaching a new low. In the context of weak supply and demand, the market sentiment is pessimistic, the price center continues to shift downward. The winter storage is sluggish this year, providing weak support for prices [2] Aluminum Ingots - The sharp decline of Shanghai Aluminum was due to the selling of precious metals, triggering risk - aversion sentiment. The market's expectation of loose liquidity was disappointed, and funds fled from risk assets such as commodities. The previous large increase in the non - ferrous metal sector led to profit - taking, intensifying the downward pressure on prices [1] - In January 2026, the domestic electrolytic aluminum output increased by 2.7% year - on - year and 0.5% month - on - month. In February, it is expected to decrease month - on - month due to fewer natural days. Some new electrolytic aluminum projects are expected to be put into production stably [2] - As the Spring Festival approaches, the downstream demand for raw materials weakens, and the high aluminum price suppresses demand. The enterprise's willingness to cast ingots increases significantly, and the proportion of molten aluminum is expected to drop sharply [2] - Last week, the comprehensive operating rate of aluminum processing was 59.4%, a 1.5 - percentage - point decline from the previous week, showing characteristics of "accelerated seasonal decline and deepened high - price suppression effect". Most sub - sectors' operating rates decreased, and the industry is quickly entering the Spring Festival off - season [2] - As of January 29, the national social inventory of aluminum ingots has reached 782,000 tons, an increase of 330,000 tons compared with the same period in 2025 [2] Later Concerns - For finished products, the concerns are macro - policies and downstream demand [2] - For aluminum ingots, the concerns are changes in macro - expectations, the development of geopolitical crises, the resumption of production at the mine end, and the release of consumption [3]

上周，贵金属经历了一轮惊心动魄的"高台跳水"。1月30日，白银日内暴跌，创下1980年以来最大单日跌幅；黄金日内则跌超10%，同样刷新了过去几十年 的单日跌幅纪录。表面上看，金、银巨幅波动与美国总统特朗普在社交平台上的表态有关，他打算提名鹰派色彩浓厚的前美联储理事会成员凯文.沃什担任 下一任美联储主席。 消息一出，美元应声反弹，美债利率抬升，全球流动性收紧预期升温。而在超买环境下本就刚刚经历了加速上涨的贵金属，则是在短时间内巨幅回撤。笔者 认为，以上是市场典型的"膝跳反应"：交易员们正迅速定价一个更偏紧缩的货币政策未来。 然而，尽管在一夜之间资产价格的运行趋势似乎就发生了巨大偏移，但对于敏锐的投资者而言，市场情绪宣泄过后，此时可能恰恰是甄别优质资产、重新布 局有着长期趋势的品种的绝佳窗口。就拿同为金属，但又具备独特韧性与强大成长逻辑的铝来说，刚性供给约束与持续增长的需求形成的剪刀差有望进一步 扩大，而这也意味着二级市场以中国宏桥(01378)为代表的相关标的将持续受到资金青睐。更不消说，以交易视角看，本轮贵金属尤其是白银品种的调整， 抑或会促使里面的投机性资金转向电解铝等长期看成长性与确定性均更强的方向。 市 ...

消息一出，美元应声反弹，美债利率抬升，全球流动性收紧预期升温。而在超买环境下本就刚刚经历了加速上涨的贵金属，则是在短时间内巨幅回撤。笔者 认为，以上是市场典型的"膝跳反应"：交易员们正迅速定价一个更偏紧缩的货币政策未来。 然而，尽管在一夜之间资产价格的运行趋势似乎就发生了巨大偏移，但对于敏锐的投资者而言，市场情绪宣泄过后，此时可能恰恰是甄别优质资产、重新布 局有着长期趋势的品种的绝佳窗口。就拿同为金属，但又具备独特韧性与强大成长逻辑的铝来说，刚性供给约束与持续增长的需求形成的剪刀差有望进一步 扩大，而这也意味着二级市场以中国宏桥（01378）为代表的相关标的将持续受到资金青睐。更不消说，以交易视角看，本轮贵金属尤其是白银品种的调 整，抑或会促使里面的投机性资金转向电解铝等长期看成长性与确定性均更强的方向。 市场"膝跳反应"，电解铝料强者恒强 特朗普提名凯文·沃什执掌美联储引发一系列连锁反应，尽管一时间全球资本市场阴云密布，但智通财经认为愈是在这种时刻，理性的投资者更需要忽略宏 观"噪音"，而更加专注于中观视角下产业自身的基本面与投资逻辑。 1月最后一周，氧化铝价格下跌0.57%至2635元/吨；电解铝方面，沪 ...

Core Viewpoint - The aluminum-based new materials industry in Guangyuan is projected to grow significantly, aiming for a total industrial output value exceeding 500 billion yuan by 2025, marking it as the first industry in Guangyuan to reach this milestone [4][5]. Industry Growth and Development Strategy - Guangyuan's aluminum-based new materials industry achieved an annual output value increase of over 25% in the past five years, with a target to accelerate towards a trillion-yuan industrial cluster [5][9]. - The city has implemented a "1345" development strategy, positioning the aluminum industry as a leading sector for industrial economic breakthroughs [5][6]. - By 2030, Guangyuan aims to establish an electrolytic aluminum capacity of 1 million tons, recycled aluminum capacity of 2.5 million tons, and aluminum processing capacity exceeding 5 million tons, with a total industrial output value reaching 120 billion yuan [6]. Infrastructure and Ecosystem Development - Guangyuan has built five specialized aluminum industry parks and a nearly 100,000 square meter incubation park, attracting numerous aluminum processing enterprises [9]. - The city has established a complete industrial ecosystem, including an aluminum trading center, processing center, and logistics center, with a cumulative trade volume exceeding 37 billion yuan [18][19]. Innovation and Green Development - Guangyuan's aluminum production is closely linked to clean energy, with significant reductions in carbon emissions achieved through the use of renewable energy sources [15][16]. - The city has implemented advanced recycling technologies, creating a closed-loop system for aluminum production that minimizes waste [12][16]. - Guangyuan aims to enhance its green manufacturing capabilities, with plans to develop zero-carbon parks and increase the proportion of green electricity consumption [16][20]. Collaborative and Supportive Framework - The local government has established a supportive policy framework, including the "Aluminum Ten Measures" and financial incentives to promote industry innovation and development [18][19]. - Guangyuan has formed partnerships with various organizations to enhance collaboration across the aluminum industry, fostering a synergistic environment for growth [20].

铝策略月报 2026 年 2 月 氧化铝&电解铝&铝合金：节假缓冲，先抑后扬 p 3 | 目 录 | | --- | | 1、价格：1月氧化铝期货震荡偏弱，截至30日主力收至768元/吨，月度跌幅0.4%。沪铝震荡偏强，月内主力收至 | | 24560元/吨，月度涨幅7.1%。铝合金震荡偏强，月内主力收至22820元/吨，月度涨幅4.4%。 | | 2、价差：1月氧化铝由贴水46元/吨扩至贴水1439元/吨，电解铝由贴水220元/吨扩至贴水240元/吨。 | | 3、供应：据SMM，预计1月国内冶金级氧化铝运行产能8882万吨，产量749万吨，环比下滑0.4%，同比下滑1.2%。山 | | 东、山西及河南厂家均出现检修降负荷动作；1月国内电解铝运行产能提升至4410万吨，产量398万吨，环比增长3.1%， | | 同比增长7.7%，铝水比回落至75.1%。 | | 4、需求：高价和环控稀释备货表现，1月铝下游加工企业平均开工率60.2%，环比12月下调0.85%。其中铝板带开工率 | | 上调1%至65.3%，铝箔开工率上调1.05%至70.9%，铝型材开工率下调3.98%至47.6%，铝线缆开工率下调0.5 ...

库存方面，当前铝库存水平高于近两年同期，持续累库对铝价上行形成了一定的压制。虽然目前库存水 平仍难形成明显压力，但就像一颗"定时炸弹"，随时可能对铝价产生更大的冲击。 短期"风雨飘摇"，中长期"曙光初现"？ "忽如一夜春风来，千树万树梨花开"，本应是充满生机与希望的时节，铝市却遭遇了一场"暴风雪"。 2026年2月2日，长江有色金属网数据显示，长江现货A00铝锭价格暴跌，单日大跌960元/吨至23700元/ 吨；沪期铝更是直接封停9.01%，报收于23035元/吨，宛如一颗重磅炸弹，在铝市场掀起了惊涛骇浪。 与此同时，国际市场也未能幸免，伦铝震荡触底，LME三个月北京时间15：20报于3024.5美元/吨，跌 109.5美元/吨，跌幅达3.49%。这突如其来的暴跌，究竟是何原因所致？未来铝价又将何去何从？ 宏观"风暴"来袭，铝价"摇摇欲坠" 本轮铝价跌停，海外宏观消息的冲击与资金的抛售成为了"罪魁祸首"。当地时间1月30日，美国总统特 朗普提名凯文·沃什（Kevin Warsh）接替即将在5月任期结束的杰罗姆·鲍威尔，出任下一任美联储主 席。这一消息犹如一颗投入平静湖面的石子，瞬间打破了市场的平静。 此前，市 ...

2月2日，中国铝业大宗交易成交130万股，成交额1653.6万元，占当日总成交额的0.16%，成交价12.72 元，较市场收盘价12.72元持平。 | 交易日期 证券简称 | | 壬券代码 三 | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 | | | 卖出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | | 026-02-02 | 中国铝补 | 601600 | 12.72 1653.6 器會是愛蘭與嘉豐 | 130 | 公開管家材料及 | | ка | ...