China’s April unwrought aluminium alloy exports soar, imports slump – core drivers & May outlook

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Today, the General Administration of Customs released import and export data for April 2026. Customs data showed:

Imports of unwrought aluminium alloy in April 2026 were 73,500 tonnes, down 15.4 per cent YoY and down 12.9 per cent M-o-M. Cumulative imports from January to April 2026 were 313,900 tonnes, down 14.6 per cent Y-o-Y. Exports of unwrought aluminium alloy in April 2026 were 46,300 tonnes, hitting a single-month export high since July 2022, surging 179.7 per cent YoY and up 68.9 per cent M-o-M. Cumulative exports from January to April 2026 were 111,200 tonnes, up 58.1 per cent Y-o-Y. 

Import source structure, the concentration of import sources for unwrought aluminium alloy in China remained high in April 2026, with the top five sources accounting for approximately 77 per cent combined. Among them, Malaysia ranked first with imports of 22,600 tonnes, its share rebounding to 31 per cent; Thailand and Russia ranked second and third with imports of 12,700 tonnes and 11,800 tonnes respectively, while Russia's share edged down to 16 per cent; Vietnam and Mongolia ranked fourth and fifth with imports of 8,300 tonnes and 1,600 tonnes respectively. M-o-M from March, total imports decreased by 10,900 tonnes, with the decline mainly from Thailand and Russia, while Malaysia and Vietnam saw slight increases.

Trade mode, processing trade with supplied materials ranked first at 21,300 tonnes (46 per cent share), followed by Entrepot Trade by Customs Special Control Area and processing trade with imported materials in second and third place, accounting for 21 per cent and 20 per cent respectively. Notably, Ordinary Trade exports reached 6,066 tonnes, with its share jumping to 13 per cent, a significant increase from the previous level of less than 1 per cent. Considering the 15 per cent export tariff, the current export structure remained dominated by processing trade (nearly 70 per cent), but driven by overseas supply gaps triggered by Middle East geopolitical conflicts, Ordinary Trade exports achieved a substantial increase.

Destination structure, Japan remained the top export destination, with April exports of 22,800 tonnes, accounting for as high as 49 per cent and occupying nearly half of the total, with processing trade with supplied materials as the primary export mode. Thailand, Morocco, South Korea, India, and Brazil formed the second tier, with individual country shares mostly ranging between 5 per cent-8 per cent, indicating relatively dispersed market distribution. Among them, Southeast Asian and Asian markets carried higher weight, reflecting regional manufacturing relocation and growing ex-China die-casting demand, providing important support for China's aluminium alloy exports. 

Overall, in April 2026, China's unwrought aluminium alloy imports continued to pull back, while exports performed strongly, hitting a record single-month high. Import side, after March, geopolitical tensions in the Middle East drove LME aluminium prices to surge, compounded by logistics disruptions, pushing up ADC12 prices outside China, with import margins narrowing rapidly and turning into losses.

In April, losses continued to widen under the dual squeeze of elevated prices outside China and weak downward-fluctuating prices in China. Currently, ADC12 prices outside China are quoted at USD 3,340-3,420 per tonne, with per-tonnes import losses exceeding RMB 3,000, and imports in May are expected to shrink further. Export side, the supply gap outside China triggered by geopolitical conflicts released the export potential of aluminium alloys, and exports in May are expected to stay high. The sustainability of future exports will mainly depend on the pace of supply chain recovery in the Middle East and the long-term growth potential of the die-casting market in Southeast Asia. 

Note: This article has been issued by SMM and has been published by AL Circle with its original information without any modifications or edits to the core subject/data.