China's aluminum exports surge amid record price spread

A record price gap between international and domestic markets drives a new boom for China's aluminum industry. Driven by growing global demand in the renewable energy sector and Middle East conflicts, Chinese aluminum exports reached 598,000 tons in April, a year-on-year increase of 15.4%. Geopolitical tensions forced aluminum capacity cuts exceeding 2.5 million tons, pushing London Metal Exchange (LME) inventories to a 20-year low. This shortage sent international prices to a four-year high of US$3,787.5 per ton, making Chinese exports highly competitive. It was reported that top Chinese aluminum manufacturers had full order books through July, especially for end uses in the electric vehicle battery and energy storage sectors. Industry analysts forecast total annual exports to reach 6 million tons, easily surpassing prior-year levels as upstream refineries maintain high capacity utilization.