China
149.5Mt bauxite in focus: Guinea drives Africa’s quadrupled export growth to China
Guinea has emerged as a major driver of Africa’s export growth to China, with its bauxite shipments to the Asian market nearly quadrupling between 2018 and 2025. Chinese imports of Guinean aluminium ores and concentrates, consisting almost entirely of bauxite, increased from 38.2 million tonnes to approximately 149.5 million tonnes over the period. The surge has bolstered Guinea’s position in China’s bauxite supply chain, while the country advances its alumina refining capacity expansion plans. Trade figures highlight the importance of Guinea and the Democratic Republic of the Congo (DRC) to Africa’s bauxite and copper exports to China, respectively. Between 2018 and 2025, the two countries added USD 25.77 billion to Chinese purchases from the continent, exceeding Africa’s overall net...
Yunnan Aluminium's net income surges 164% to $1.74b in nine months
China's Yunnan Aluminium Co., Ltd. reported a sharp improvement in financial performance for the nine months ended September 30, 2026, with net income rising approximately 164 per cent Y-o-Y to CNY 11.6 billion (USD 1.74 billion), compared with CNY 4.39 billion (USD 660.96 million) in the corresponding period of 2025 The company's sales increased to CNY 52.61 billion (USD 7.90 billion) from CNY 44.07 billion (USD 6.62 billion) a year earlier, representing growth of approximately 19.4 per cent. The increase in net income significantly outpaced revenue growth, highlighting a substantial improvement in the company's reported earnings during the first nine months of 2026. Explore the production, demand and consumption forecasts of bauxite and alumina in our report: "Global Bauxite & Alumina...
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A report that reveals where the aluminium casting industry is heading and how businesses can act.
LEARN MOREAL Circle Analysis: 243% US scrap rise, 6Mt European recycling & Germany’s power fix drive aluminium trade
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Europe’s recycled aluminium production: Germany, Italy and the UK anchor a competitive market
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News
Aluminium billet stocks fall for a third week; shipments stay high, processing fees diverge
According to SMM statistics, China's aluminium billet inventories at major consumption areas stood at 138,000 tonnes on October 29, down 10,500 tonnes from Thursday a week earlier and down 4,000 tonnes from Monday this week, marking a third consecutive weekly decline since the National Day holiday. Compared with the same week in previous years, inventories are broadly flat with 2025 and about 24,000 tonnes higher than 2024, having returned to the level of the past two years. Weekly billet shipments totalled 56,800 tonnes over October 19-25, down 1,100 tonnes from the previous period but still clearly above the same period in the previous three years. By region, Foshan accounted for the bulk of destocking with a decline of 16,000 tonnes, while Changzhou, Huzhou and Nanchang posted small...
JiaoZuo WanFang's profits nearly double, hitting $263m in nine months
JiaoZuo WanFang Aluminum Manufacturing Co Ltd recorded a 93.5 per cent increase in net income to CNY 1,753.08 million (USD 263.31 million) for the nine months ended September 30, 2026, compared with CNY 905.92 million (USD 136.07 million) in the corresponding period last year. The company's sales rose 19.2 per cent year on year to CNY 5,938.64 million (USD 891.98 million), up from CNY 4,981.54 million (USD 748.23 million) a year earlier. The increase in net income substantially outpaced sales growth during the reporting period. JiaoZuo WanFang's basic earnings per share from continuing operations reached CNY 1.47 (USD 0.22), compared with CNY 0.76 (USD 0.11) in the same nine-month period of 2025. Diluted earnings per share from continuing operations also increased to CNY 1.47 (USD 0.22),...
$9 separates China and India bauxite prices, but shipping changes everything
China recorded a bauxite price of USD 64 per dry metric tonne (DMT) on a CIF basis in August 2026, while India's quotation stood at USD 73 per DMT on an FOB basis, according to the supplied market assessment. The reported USD 9 difference highlights contrasting price levels across the two markets, although different shipping terms make a direct cost comparison difficult. China's CIF quotation includes freight and insurance, whereas India's FOB price covers the material up to loading at the port. Buyers sourcing bauxite from India therefore need to account for additional shipping costs to determine the final landed price. As a result, the USD 9 difference does not represent the actual gap between the two markets' delivered costs. Freight terms complicate regional bauxite price comparison...
Macro and fundamental bullish-bearish factors interweave, aluminium prices expected to consolidate in the short term
Macro front: Ex-China, the US Fed kept rates unchanged at 3.75 per cent-4 per cent at its October meeting, and the US dollar index dipped sharply, though two votes still favoured a hike. US CPI and PPI both rose in August and September, with energy prices still elevated, so inflation pressure persists. CME data shows the probability of a 25 bp hike in December has risen to about 78 per cent, extending tightening expectations and weighing on dollar-denominated nonferrous metals valuations. Meanwhile, the US consumer confidence index edged down to 48.0 in October, near a historical low, and Middle East conflicts are pushing up prices, darkening the economic outlook. Fundamentals: Supply side, replacement projects released a small amount of idle capacity, and China's weekly aluminium...
Renewed rate hike expectations weigh on futures, weakening marginal demand is holding back the recovery in aluminium prices
Futures: The most traded aluminium contract on the SHFE opened at CNY 23,310/tonne in the overnight session on October 29, reached a high of CNY 23,405 per tonne and a low of CNY 23,280 per tonne, and closed at CNY 23,375/tonne, up CNY 65 per tonne, or 0.28 per cent, from the previous close. The contract consolidated at the lows with a slight rebound, with prices holding above the 20-day moving average, while the 5/10/40/60-day moving averages formed resistance above. Trading volume for the session was 59,966 lots, with open interest amounting to 250,000 lots, an increase of 2,632 lots, mainly due to an increase in long positions. On the technical side, the 4-hour MACD maintained a golden crossover, and the red histogram expanded, suggesting short-term consolidation and recovery at low...
China aluminium bar output holds near highs as weak demand, long-term contracts keep supply rigid
As of Q3 2026, according to Mysteel data, China's effective domestic aluminium bar production capacity reached 31.68 million tonnes during the quarter, with average capacity utilization at 57.39 per cent, up 0.46 percentage points from Q2. Over January–September 2026, total domestic aluminium bar output stood at 13 million tonnes, down 2.16 per cent year-on-year. Output in Q3 2026 remained elevated overall, with both July and August each exceeding 1.5 million tonnes, while September saw a decline but still came in close to that level. Although total output for the first three quarters of 2026 declined Y-o-Y, on a Q3 standalone basis the gap versus the same period in 2025 was less than 20,000 tonnes, and output was actually over 100,000 tonnes higher than in Q3 2024. Notably, both July and...
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