China's H1 2026 aluminium exports climb 16.3%, led by 711kt record June shipments

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China's exports of unwrought aluminium and downstream products reached a record high in June, according to official customs data released on Tuesday.

Exports rose to 711,000 tonnes in June, the first time monthly shipments exceeded the 700,000-tonne mark. The volume was 12.5 per cent higher than 632,000 tonnes exported in May.

During the first six months (H1) of 2026, exports of unwrought aluminium and aluminium products increased 16.3 per cent year-on-year to 3.4 million tonnes. According to Shanghai Metals Market (SMM), total exports during January-June reached 3.396 million tonnes.

China's aluminium market remained characterised by weak domestic demand and strong overseas demand during H1. While higher aluminium prices continued to weigh on domestic purchases, exports of aluminium semis remained strong.

On the supply side, SMM noted that high smelting margins encouraged aluminium producers to maintain high operating rates, while new production capacity commissioned from late 2025 continued to add supply during H1 2026.

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China exported 1.435 million tonnes of aluminium semis during January-May 2026, up 13.7 per cent from the same period last year. Exports in May alone reached 320,000 tonnes, an increase of 14.7 per cent Y-o-Y.

According to SMM, export growth was supported by the price relationship between the London Metal Exchange (LME) and the Shanghai Futures Exchange (SHFE). Overseas supply concerns and relatively high inventories in China created favourable conditions for aluminium semis exports.

China's aluminium social inventory also changed during the first half of the year. Inventory increased in the early months and reached 1.465 million tonnes in early May before declining during the second quarter (Q2) as downstream production resumed and export shipments increased.

Looking ahead, the aluminium market is expected to face pressure from macroeconomic factors and additional supply in the second half of 2026. Moreover, domestic demand during the peak consumption season and changes in export orders will remain the key areas to watch.